STORIED winemaker McWilliam's Wines has been placed into voluntary administration, throwing the future of a cornerstone of the Hunter's wine industry into limbo.
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KPMG Australia were appointed as administrators on Wednesday and have begun assessing the business and its operations.
"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," KPMG restructuring services partner Gayle Dickerson said.
"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.
"There are significant wine assets in the Riverina district and the Hunter Valley, long established distribution channels and relationships with global international distributor brands."
Taking the chief winemaker role at the McWilliam's Mount Pleasant vineyard and winery in 2018, Adrian Sparks became the fifth person to hold the post in almost a century.
"Mount Pleasant is home to some of the country's best wines and vineyard sites," he told the Newcastle Herald in May that year.
"It's part of Australia's winemaking history and working with fruit from vines planted by arguably Australia's greatest winemaker is certainly something to treasure."
The McWilliam's name has a storied history in the Hunter and an ongoing reputation in the region.
The first vines were planted at McWilliam's Pokolbin property Mount Pleasant in 1880, and in June last year Mr Sparks was named winemaker of the year.
In late 2015 the company sold off several other brands as part of a strategy geared towards focusing on brands including Mount Pleasant.
In 2019, McWilliam's Wines Group completed a successful recapitalisation in February with their strategic partner Margaret River Wine Production.
The $15.8 million recapitalisation was aimed at taking McWilliam's "to the next level".
"We have not made the decision to enter into voluntary administration lightly," McWilliam's chairman Jim Brayne said.
"A number of factors have contributed to a decline in business performance, including evolving structural market dynamics and capital constraints.
Declan Rurenga
Declan Rurenga was the editor of Griffith's Area News and Leeton's Irrigator until September 2023. Before landing at the Murrumbidgee Irrigation Area, he reported news in Junee, Wagga Wagga, Orange and Cootamundra.
Declan Rurenga was the editor of Griffith's Area News and Leeton's Irrigator until September 2023. Before landing at the Murrumbidgee Irrigation Area, he reported news in Junee, Wagga Wagga, Orange and Cootamundra.
