PHOTO: A once-celebrated Hawke’s Bay winery has collapsed into liquidation. PROPERTY NOISE.
A once-celebrated Hawke’s Bay winery has collapsed into liquidation, triggering the end of one of the region’s most popular wine events — and unleashing a fire-sale of wine stock rarely seen in New Zealand.
Te Awanga Estate, alongside its winemaking arm Hawke’s Bay Wine Co, has entered voluntary liquidation, while organisers have confirmed the Te Awanga Wine Festival will conclude permanently after its 2026 event.
💥 “End of Empire”: Winery Subscribers Cut Off as Liquidation Begins
Subscribers to Te Awanga Estate’s Drinkers and Keepers Wine Club were informed via email this week that the business had entered liquidation — with the message bluntly stating: “this is the email we never dreamt we’d have to write.”
Key points for customers:
Wine shipments have ceased immediately
No further payments will be taken
Subscriptions will be cancelled following an upcoming “end of empire” sale
Customers may cancel subscriptions at any time
The company confirmed it was working with liquidators to notify its customer base once sale dates are finalised.
A spokesperson for Te Awanga Estate declined to comment further.
📉 The Numbers: Millions in Debt Across Four Wine Businesses
According to the Companies Office, PricewaterhouseCoopers (PwC) has been appointed liquidator.
PwC restructuring partner Richard Nacey confirmed that four related businesses are now in liquidation:
Te Awanga Estate – $600,000 unsecured debt
Hawke’s Bay Wine Co – $3 million unsecured debt
Hawke’s Bay Wine Investments – $600,000 unsecured debt
Portside Wines – $2 million unsecured debt
On top of this, the group carries approximately $4 million in bank debt, cross-guaranteed across the entities.
🍾 Massive Wine Sell-Off Looms: 20,000 Cases to Be Dumped
To recover funds for creditors, liquidators will attempt to sell:
20,000 cases of bottled wine
400,000 litres of bulk wine
While some stock will be sold directly to consumers via Te Awanga Estate’s clearance sale, PwC confirmed much of the wine will likely be sold in bulk to third parties.
“We will try and sell those cases in bulk to third parties,” Nacey said.
For wine buyers, retailers, and exporters, this could mean deep discounts and unusual buying opportunities in the coming months.
🏡 Vineyards for Sale — A Familiar Pattern in Hawke’s Bay
Te Awanga Estate’s vineyard and restaurant, located in the coastal settlement of Te Awanga, has been on the market since October 2024 and remains listed for sale.
The collapse mirrors broader stress in the Hawke’s Bay wine sector. Nearby winery Elephant Hill was also listed for sale in late 2024, though its listing has since been withdrawn.
Industry insiders say rising costs, soft export demand, and tightening credit conditions have created a perfect storm for mid-sized operators.
🎉 Te Awanga Wine Festival to End After 2026
The liquidation has had ripple effects beyond the winery itself.
Organisers have confirmed the Te Awanga Wine Festival will end permanently after its February 2026 event, citing uncertainty over the ownership and future direction of local wineries.
The festival began when the area had just three wineries, growing into one of Hawke’s Bay’s most popular summer wine events.
Organisers said:
The festival is stronger than ever
The decision was difficult but necessary
Plans are underway for a new event with similar values but broader creative scope
📅 Final event: Saturday, 14 February 2026
🧠 Bigger Picture: What This Signals for NZ Wine & Hospitality
The collapse of Te Awanga Estate highlights deeper structural pressures facing New Zealand’s wine and hospitality sectors:
High leverage and rising interest costs
Slowing discretionary spending
Export uncertainty
Oversupply in certain varietals
While premium labels and large corporates remain resilient, mid-tier regional producers are increasingly exposed.
For investors, buyers, and operators, this liquidation will be closely watched — not just for the wine being sold, but for what it signals about the next phase of consolidation in NZ wine.