Temple Bruer Wines in Langhorne Creek has gone into administration owing about $2.6 million.
The winery was founded by the late David Bruer, an icon of organic winemaking.
David passed away in 2023, handing the reins to his son, Michael Bruer.
There are four companies involved: Temple Bruer Wines Pty Ltd, Temple Bruer Estates Pty Ltd, Temple Bruer Wines (Kingston Road) Pty Ltd and Temple Bruer Properties Pty Ltd.
The first meeting of the creditors will be held on June 11.
Wineries are struggling for several reasons including an oversupply, reduced wine consumption across the world, a cost of living crisis and recent sharp increases in the costs of doing business.
The administrators – HPL Advisory – told The Advertiser they had commenced a search for a buyer.
“The sale of assets will take time as current industry conditions mean there are a lot of vineyards and wine looking for a new home,” Andrew Heard from HPL Advisory told The Advertiser.
“While the business has faced financial pressures in the current oversupplied and margin-compressed wine market, the brand itself continues to hold significant value.”
The administrators said they were also exploring a sale of the assets and recapitalisation via a deed of company arrangement.
Heard said the company had more than 11,000 dozen bottles of wine in stock and 340,000 litres of bulk wine.
Photo: David Bruer with his son, Michael.
Recent Comments