Eden Road Wines pulled out of voluntary administration

Creditors (those owed money) agreed on Friday to accept an offer from shareholders that will allow the winery to remain open while the debt of $3,457,711 is paid.

Up until the previous Friday, January 25, a sale of the winery was on the cards in order to clear the debt.

Documents drawing an end to the voluntary administration are expected to be signed this week.

Voluntary administrator Vaughan Strawbridge of Deloitte said the agreement would also secure the jobs of all the staff at Eden Road Wines and maintain the winery’s relationships with suppliers and customers.

“Our focus throughout this process has been to ensure the best outcome for everyone ... This outcome will ensure a strong and stable future for Eden Road Wines,” Mr Strawbridge said.

The offer does, however, require current director Chris Coffman, who lives in the US, to leave the company, along with another, undisclosed shareholder.

Peter Wiggs and Stuart O’Brien will remain as shareholders.

The company was placed into voluntary administration on December 4, 2018. However, it has continued to make and bottle wine throughout. The cellar door has also remained open.

Eden Road Wine Company, registered in 2006, is on the Barton Highway in Murrumbateman and has four full-time employees and a number of casuals. It produces approximately 160,000 bottles per year.

Staff are currently preparing and looking forward to the next vintage.

This story first appeared in last Friday’s paper.