Winemasters SA brings in administrators following failed sale

Contract processing winery Winemasters SA has called in administrators after a failed effort to sell the Riverland operation, according to The Advertiser. The Advertiser said it had been a major supplier of bulk wine into China before three years of tariffs halted sales to what had been Australia’s biggest trading partner. The reporting claimed that the operation had been put up for sale last September, however, a buyer was never found. Business turnaround advisor Eddie Griffith is reportedly now working with the company’s director David Harris on a deed of company arrangement proposal, which is a creditor repayment plan that would see a group of new and existing investors acquire the site.