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Tate family wine business failure amounts to $78m
The dire shape of the Tate family wine empire has emerged with debts estimated by liquidators reaching as much as $78 million across two companies.
Franklin Tate and his wife Heather Tate controlled both Grape Expectations Enterprises and Grape Expectations Vinters until early November when external administrators were appointed to the two companies.
The report filed by Cor Cordis liquidator Thomas Birch in mid-March showed Grape Expectations Enterprises owed more than $51 million while its sibling company had debts of almost $26 million.
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