Port Macquarie’s Cassegrain Wines is up for sale after entering voluntary administration.
Insolvency firm Shaw Gidley was appointed as administrator three weeks ago and has since recommended the business be sold, due to its high volume of debt.
Cassegrain was established by John Cassegrain and his former wife Eva in 1985. Combining traditional French winemaking methods with the latest in Australian technology, Cassegrain is best known for its award-winning portfolio of full-flavoured, soft, elegant wines.
Located just off the Pacific Highway on the NSW Mid-North Coast; the picturesque grounds have played host to an array of events including concerts, festivals, community events, weddings, corporate functions.
John Cassegrain’s son Alex is currently the head winemaker. He was named Australian Society of Viticulture and Oenology’s (ASVO) 2021 Winemaker of the Year.
John Cassegrain told ABC News that the pandemic, natural disasters and Chinese wine tariffs had taken their toll on the business, but he is optimistic it can bounce bank.
“We can trace our winemaking back to 1643 in France on my mother’s side of the family, so it’s in our blood,” he said.
“We’re hell-bent on keeping this winery going, trading as Cassegrain Wines and, God willing, with the Cassegrain family involved in it.”
“It’s not financially viable for the administrators keep running it, but the company has had a cash flow problem, not a profitability issue.”
The winery’s onsite restaurant Twotriplefour announced late yesterday through a statement on Facebook that it would “bow out” of its premises on Sunday, July 9, but would continue to trade ina pop-up capacity until a new venue was found.