One of Australia’s largest organic wineries has gone into administration after failing to sell the business.
Salena Estate, which was established by the Franchitto family in 1998 and covers 191ha, produces about 10,000 tonnes of wine per year from Bookpurnong, in South Australia’s Riverland region.
The company mostly exports to Asia, the US and Europe.
China was a major customer before tariffs were imposed on Australian wine in 2020.
Administrators Tim Mableson and Ryan Eagle from KPMG were appointed last week to take control of the company.
The first meeting of creditors will be held at the Berri Hotel next Tuesday.
It is understood a sale of the business is being considered, according to The Australian newspaper.
It has also been suggested an estimate of debts owed by the company could reach up to $20m.
The Riverland accounts for more than one quarter of the nation’s annual grape crush.
