Western Australian businessman Peter Fogarty has moved to protect his investment in failed wine company McWilliam's Wines, with McGrathNicol appointed as receivers and managers of the 141-year-old company late on Friday.
McGrathNicol partners Shaun Fraser and Kathy Sozou were appointed by secured creditor Margaret River Wine Production Pty Limited.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com