After weeks of intense speculation in the UK wine trade, the directors of HwCg UK have announced that the company has gone into administration.
In a formal statement released by the company, it says the decision had been driven by financial issues arising from their associated companies in Australia. Ironically, HwCg UK says it has been trading strongly.
PLB, another leading UK importer, brand owner and agency, has been in discussions with HwCg for some time and has bought the company assets from the administrator.
The hope is to maintain continuity of supply for all customers and suppliers. PLB also aims to take on personnel from HwCg. The companies’ portfolios are said to be “an extremely good fit, having complementary supplier bases”.