SHAREHOLDERS of Barossa Valley Estate have been left up in the air after their winery cooperative was placed into receivership.
The timing of the move couldn't be worse as the 2013 vintage nears and the future of grape contracts remains uncertain, adelaidenow.com.au reports.
It's also understood many of the supplier shareholders have yet to be fully paid for their 2012 crops.
Company partner Sam Davies said they intended to continue operating the winery while working closely with the contract growers and BVE management over the next two weeks to determine and settle 2013 grape supply requirements.
Existing domestic and export distribution arrangements will be reviewed, Mr Davies said.
Upcoming functions booked through the cellar door and function facility would be honoured, he said.
A source close to BVE said the company would need to quickly sort out what the present financial scenario meant before the coming harvest.
"It's the busiest time of the year," the leading Barossa identity said.
Barossa Valley Estate not only makes its own labelled wines but also has a large contract processing component to its business, he said.
The winery became a fully owned shareholder cooperative venture in April 2011 after a consortium of Barossa Valley growers bought out the half stake in the company previously owned by Accolade Wines.
Full story, adelaidenow.com.au