Bodega Norton, one of Argentina’s largest wineries, has formally entered administration with reported debts of 64 billion pesos (US$43 million or £32 million) owed to creditors, it has been reported.
A Mendoza court approved the move petition of administration, freezing the assets of the winery (including its vineyards and brands), and imposing restrictions on its Argentinian-based directors, according to Argentinian website, InfoCampo.
The news comes after the winery entered a “preventative bankruptcy” in early December, a form of voluntary administration or insolvency proceedings in order…