Victorian Alps Wine Company placed into voluntary administration and receivership as sale process commences

Victorian Alps Wine Company Pty Ltd, the operator of the Gapsted Estate and Gapsted Wines brands in northeast Victoria, has entered voluntary administration and receivership, marking the latest casualty in Australia’s struggling wine sector. Richard Lawrence of Mackay Goodwin was appointed voluntary administrator on 27 November 2025, with Luke Andrews and Mathew Blum of BDO subsequently appointed as receivers and managers by the company’s secured lender.

The appointments place the winery and its associated distribution operations under the control of external insolvency practitioners while a potential sale of the business and its assets is pursued. The vineyard and winery, located near Myrtleford, have continued trading during the process, employing approximately 33 staff.

Victorian Alps Wine Company was established in the late 1990s by a group of local wine industry families and has operated as both a wine producer and distributor. In statutory reports lodged with regulators, the administrator has estimated the company’s total liabilities at around $5 million. These include unsecured claims from trade creditors, employee entitlements, taxation liabilities, and amounts owed to related parties. The Australian Taxation Office is among the larger unsecured creditors, alongside more than 60 trade suppliers. The level of secured debt has not been publicly disclosed, with details withheld to avoid prejudicing the receivers’ sale process.

The administrator has reported that the company has experienced prolonged financial stress, including ongoing operating losses and persistent cash flow constraints. Directors have attributed the deterioration to broader weakness in wine demand, declining sales volumes, and internal disputes involving a former employee, allegations that remain contested and may be examined further if the company proceeds to liquidation.

The receivers are now leading efforts to realise value from the business, including exploring a sale of the winery and associated assets.