According to reporting by The Advertiser, Adelaide-based company Heartland Wines has “collapsed” and owes $3.6 million.
The Advertiser claims that a report to creditors revealed that “Westpac provided Heartland with an overdraft and credit card facility that had blown out to $1.2m by mid June”.
Heartland reportedly does not produce wine itself and instead outsources production to other companies.
Barossa Vintners, a related company storing Heartland’s goods, claims it has a ‘warehouse lien’ – a legal hold giving them the right to the money when the inventory is sold, as detailed by The Advertiser.
The article also says that “Barossa Vintners claims Heartland owes it $1.6m, with roughly $1m of that related to…