Receivers to focus on selling Mahana Estates

28 September 2018

MEDIA RELEASE

Nelson based vineyard and hospitality provider, Mahana Estates, has today been placed into receivership.

KordaMentha partners, Brendon Gibson and Natalie Burrett have been appointed Receivers.

The Receivers will look to find a buyer leveraging off the sales process undergone to date.

Mahana (previously Woollaston Estates), set in the hills above Nelson, has been operating for 18 years as an established, vertically integrated winery and includes 30 hectares of mixed grape vineyards, state of the art gravity flow winery and bottling plant, cellar door, restaurant and event space.

Receiver, Brendon Gibson, said the company requested the appointment of Receivers due to its financial difficulties including an ongoing shareholder dispute. Gibson said the Receivers will try and work with the director and stakeholders. “We will be maintaining assets of the Estate and focus on concluding a realisation process to optimise value of the assets”, Gibson said.

Receivers have also been appointed to a related party, Woollaston Estate Holdings, which is the land owning entity.

Currently, Mahana employs 6 staff in New Zealand.

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