A large debt hanging over McWilliam's Wines Group has been paid as administrators seek to keep the historic winery operating.
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KPMG administrators paid $6.2 million to Margaret River Wine Production, after the West Australian business engaged a receiver to protect its investment.
Margaret River Wine Production was involved in a deal to recapitalise McWilliam's in 2019, before the storied Riverina winery was placed into administration.
"Promptly repaying the secured debt owed to Margaret River Wine Production is a positive step forward in the administration as it reduces the complexities for all parties during the sale or recapitalisation process," KPMG restructuring services partner Gayle Dickerson said.
"We continue to receive a high level of interest in McWilliams, from a wide-range of parties located both on and offshore," Ms Dickerson said.
"We will continue to execute on the strategy to sell or recapitalise the business, and find the right party to take this iconic Australian business into a successful future."
Receivers McGrathNicol are expected to retire.
McWilliam's which is operating on 'business as usual' and completing this year's vintage despite administration is currently for sale with expressions of interest due on March 31.
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