A prominent regional NSW winemaker has fallen into voluntary administration, citing significant financial losses brought about by the COVID-19 pandemic, natural disasters and the Chinese government.
Mr Cassegrain said the company's woes dated back to the 2019-20 bushfire season when 80 per cent of stock from its main grape suppliers was "unmarketable" from smoke taint."The COVID pandemic had significant impact on all revenue streams of the business, that we are still recovering from, particularly contract processing and export to Japan," he said.
He said the factors had created real concerns about the short-term solvency of the business, leaving him with "no choice" but to appoint administrators.Mr Cassegrain said the winery would continue to trade as usual in the meantime.
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