There is already "strong interest" for a potential purchase of wine and cider producer Winemaking Tasmania after it went into voluntary administration earlier this week, its administrator Pitcher Partners (PP) said.
PP told Food & Drink Business that since the company entered voluntary administration on Wednesday night, it had already received 10 queries and expected that number to grow.
“There is incredibly strong interest in the business, which is understandable given the role it plays in the Tasmanian wine and cider sector and the strength of the local winemaking market,” PP administrator Andrew Yeo says
“We are fielding a very strong level of enquiry while we look at all the options available for recapitalising the business.”
Founded in 2001, the company supplied winemaking, bottling and production services to more than 30 vineyard and orchard brand owners across Tasmania, and accounted for 5 per cent of the state's finished wine by volume.
Yeo and David Vasudevan were appointed as administrators and will oversee the continued trading of the company while an independent assessment is undertaken of the company's future.
PP said it will work with Winemaking Tasmania's management and “examine all options to see the sale or recapitalisation of the business for its continuation, given its significance in the Tasmanian wine industry”.
Winemaking Tasmania managing director Jonathan Lord said they will be “working closely with the administrators to get things back on track for the good not only of our clients but the whole Tasmanian wine industry.”
The first creditors meeting is scheduled for 31 May.