Cockatoo Ridge Wines enters administration

Winery Cockatoo Ridge Wines (ASX:CKR) has entered voluntary administration, as it became the latest victim of the downturn in the local wine market.

Company directors have come to believe that the company and its subsidiaries – which include Australian Commercial Wines and Playford Wine Holdings – will become insolvent in the third quarter, the board announced in an ASX release.

Cockatoo Ridge has appointed BDO Kendalls as a voluntary administrator, effective immediately.

CKR shares have been suspended since January 10, and were last trading at $0.03.