EVANS & TATE RETHINKS ITS FUTURE

Troubled Australian winery Evans & Tate says it will reach a decision regarding the company’s future in December. At a second creditors meeting on Wednesday (Oct. 17), a resolution was passed in favor of adjourning the meeting until December 14, according to a report in The West Australian. At that time, creditors will decide whether to wind up the group, end its administration or execute a deed of company arrangement (DOCA) that results in a better return to creditors than liquidation.

At least five parties, including De Bertolli Wines and a joint-venture between McWilliam's Wines and Pendulum Capital, are believed to be bidding to acquire E&T's assets and operations.