Treasury Wine Takes AU$687M Write-down on US Business

Treasury Wines’ Shares Plunge After $450 Million Writedown

Treasury Wine Estates Ltd. shares slumped to a fresh 10-year low on Monday after the company announced it would write down the value of its US business by A$687.4 million ($450 million) because of a forecast decline in cash flows.

Cheap wine slump causes £340m hangover for Blossom Hill owner

Producer blames sales drop on reduced demand for lower-priced brands as drinking habits shift

Treasury Wine flags $450 million writedown of US assets, shares hit decade low

Australia's Treasury Wine Estates said on Monday it expects to write off A$687.4 million ($449.56 million) from the value of its U.S. assets due to a slowing American wine market, sending its shares to their lowest in more than a decade.

Treasury Wines misses its American bet

The crisis in the alcohol and spirits sector is sparing no one, least of all Australian wine producers.

Treasury Wine wipes at least $687m from its sprawling American business

The write-down comes just a month after the arrival of a new chief executive Sam Fischer and as earnings expectations weaken while drinkers steer clear of wine.

Treasury Wine Flags $450 Million Writedown of US Assets, Shares Hit Decade Low