Evans & Tate In Receivership

Written by Ian Robertson on 26th August 2007

It seems that WA Producer Evans & Tate have finally succumbed to crippling debts and called in the receivers.

The announcement has been made on the ASX, and it surely means that one of the more dominant players in the wine market will pick them up for a decent price.

Franklin Tate, the former Chairman, has also announced his departure from the company previous to the announcement.

Ferrier Hodgson will handle the company in administration. Chief among the creditors is the ANZ Bank, who showed immense patience with the companies losses in the last three years of trading.