Unsecured creditors of Salena Estate Wines are reported to receive just 5c of the dollar owed as Administrators continue to run the operation while a sale is finalised.
The business went into administration earlier this year, at the time owing a reported near $20M to both secured and unsecured creditors.
Recently a sale of the assets was approved by the receivers, which was reported by The Advertiser to be $9.2M.
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This sale, subject to Foreign Investment Review Board approval is said to not include the Business, Brands or the bulk wine stored at the site.
Speaking this week to The Murray Pioneer, Member for Chaffey Tim Whetstone said ensuring the winery returned to operation was crucial to the industry’s overall recovery.
