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Evans & Tate could be sold by November

Published:  23 July, 2008

AUSTRALIA: Administrators tell growers there are no guarantees of payment for last year's grapes until a new buyer is found.

The beleaguered Western Australian wine company was forced to appoint voluntary administrators to recover a AUS$100million (40.9M) debt.

Administrators Ferrier Hodgson's spokesman said he cannot give growers a guarantee they will be paid for last year's grapes until a new owner is found.

"Not only with regard to the money that is outstanding now but also setting some of those supply chain issues for next year's vintage in 2008," he said.

"So they're mindful of what they're likely to get back out of it, in terms of dollars and cents, and particularly keen to make sure they understand who's going to be the new owner of it," ABC Australia reported.