AU: Yellow Tail makers in crisis talks with lender

Jan 15, 2013

(TheDrinksBusiness) - Casella Wines, makers of Yellow Tail – the best selling Australian wine in America – is in crisis talks with its lender after recording its first loss in 20 years. According to the Wall Street Journal, Casella is looking to secure a deal with lender National Australia Bank ahead of an extended 30 January deadline. A failure to secure a new loan could force the company to sell off vineyards and other assets, the company’s chief executive John Casella told the WSJ. Casella reported a loss of AU$30 million in the last financial year, down from a $43.5m profit the year before, according to The Australian Financial Review.

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