“Five million litre glut” of unsold wine: Salena Estate debts revealed

Image courtesy Salena Estate Facebook

Details of the collapse of major wine producer Salena Estate have emerged following a creditor’s meeting earlier this month.

Riverland winery Salena Estate was reportedly holding five million litres of bulk wine after entering administration in late February.

A total of four million dollars is allegedly owed to unsecured creditors, including around 20 local growers in the Riverland according to The Australian, with the main-secured creditor Westpac reportedly owed nearly $20 million.

Administrators for the business will attempt to sell the wine prior to the sale of Salena Estate, with administer Tim Mableson saying he expected “strong interest” in the business, which will head for a public sale campaign, The Australian reported.

Salena Estate was one of the top 20 wine producers by volume in Australia, producing nearly 10,000 tonnes annually.

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