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OM130924_Digital_Edition.pdf

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BEECHWORTH - CHILTERN - RUTHERGLEN - STANLEY - YACKANDANDAH Friday, September 13, 2024

Phone (03) 5723 0100

$2.00 (inc.GST)

www.omadvertiser.com.au

INSIDE

WINE CONNOISSEUR This year’s chairman of judges Russell Cody adjudicated, if necessary, at this year’s Rutherglen Wine Show. Story page 3 PHOTO: Coral Cooksley

Mad Max insights Page 4

Indigo Interview Page 9

Hope for Billson’s Indicative offers for the sale and recapitalisation p of the Beechworth business close on Fridayy THE ffate t off Bill Billson’s ’ Beverages may be decided in the next month as administrators remain optimistic of its sale and recapitalisation prospects. Indicative offers for the Beechworth-based business close on Friday, September 13, around five weeks after entering the sale process. McGrath Nicol administrator Rob Smith said offers were progressing

“It’ a positive iti number b “It’s and it goes to Billson’s being a really successful brand of business in the past and continuing to be so. “It’s garnered a wide variety of interest which is encouraging.” Following the closure of indicative offers, Mr Smith said the group would be asking preferred bidders to move into detailed due diligence and expecting final offers to be made by

BY BAILEY ZIMMERMANN bzimmermann@ nemedia.com.au

well and as planned, with more than 40 Australian and overseas companies showing interest for the business. “It gives us continued optimism about a successful outcome of the sale and recapitalisation process,” he said.

id O t b mid-October. “We’re looking to enter a final sale agreement by the end of October,” he said. The popular Beechworth brewery entered voluntary administration on July 31, citing a rapid downturn in consumer spending, and punishing government excise duties as contributing factors. Supreme Court of Victoria documents submitted on September 5 show at the

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ti th administrators d i i t t time the were appointed, the company owed at least $22 million in debts and liabilities to creditors. Of that amount, more than $12.2 million was owed to the NAB with $1.8 million in tax, $1.1 million in employee entitlements and $3.3 million to other creditors. Following the administrators’ July 31 appointment, 53 employees

l id off ff with ith 49 were laid workers remaining. The company had previously slashed jobs in February amid cost pressures. Associate Justice Simon Gardiner said should a sale not be achievable, it was likely the administrators would have to cease operations and wind down the business to realise any remaining assets. ■ Continued page 2

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$23,540

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Brendan Breen 0427 202 737

Hayden Murray 0409 814 296

www.mcgregor-machinery.com.au


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