McWilliam’s Wines goes into administration due to financial struggles

After 141 years and six generations of family ownership, Australia’s sixth-largest wine company has gone into administration due to financial struggles.

After 141 years and six generations of family ownership, McWilliam’s Wines — the nation’s sixth-largest wine company — has gone into administration.

After significant financial struggles, McWilliam’s Wines has revealed it has appointed voluntary administrators KPMG to navigate the company’s uncertain future, The Australian reports.

McWilliam’s Wines in Hanwood, NSW, has gone into administration.

The company, based in the NSW Central Riverina town of Hanwood, has the McWilliam’s and Mount Pleasant wine brands in its range.

It is also the sole Australian distributor for well-known global brands Champagne Taittinger, Mateus, Henkell and Mionetto.

KPMG has been appointed as voluntary administrators.

McWilliams chairman Jim Brayne said “a number of factors have contributed to a decline in business performance, including evolving structural market dynamics and capital constraints”.

“We will work closely with the administrator during the process in order to strengthen the prospects of a positive outcome for all involved,” he said.

KPMG partners Gayle Dickerson, Tim Mableson and Ryan Eagle were appointed as voluntary administrators of McWilliams Wines Group.

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The business has been in the founding family’s hands for generations.

Ms Dickerson told The Australian they hoped to find a buyer to secure the company’s heritage.“We are seeking expressions of interest to recapitalise or acquire the group to take this heritage brand forward in the future both locally and globally,” Ms Dickerson said.

“The company will continue to operate as normal and we are working with the McWilliams’ family with the support of its employees while we work hard to try to preserve one of Australia’s oldest winemakers.

“There are significant wine assets in the Riverina district and the Hunter Valley, long established distribution channels and relationships with global international distributor brands.”