Image: The entrance to McWilliam’s Wines’ Hanwood Estate in the Riverina

AFR reported McWilliam’s Wines may have gone under six weeks before it announced the company would be going into voluntary administration.

In the article, KPMG says the historic Australian wine company McWilliam’s Wines may have been insolvent almost six weeks before it was appointed as administrator, and that it had racked up combined losses of more than $80 million since 2015.

A 257-page report, which has been sent to the creditors by KPMG partner Gayle Dickerson and fellow administrators, outlines that they believe the company may have been insolvent as early as November 30, 2019. KPMG was appointed administrator on January 8, 2020.

“The administrators believe that the group may have been insolvent on or around 30 November, 2019,” the report states.

To read the full article, visit the AFR website. (Possibly behind a paywall).

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