Prince Hill Wines in administration

The final part of the collapse of Mudgee’s biggest winery is now in place with McGrath Nicol being appointed administrators for the troubled Prince Hill Wines Group. Financier Commonwealth Bank appointed Ferrier Hodgson as receivers and managers on March 14 to a property owned by Coonawarra Australia Property Trust subsidiary, CPV Wines, and the Trust’s responsible entity, Coonawarra Premium Vineyards. The vineyard management company Prince Hill Wine Services is also being managed by Ferrier Hodgson, while the listed entity has been suspended from trading, reports Adelaide Now.