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Article: AUSTRALIA'S GLOBAL WINE VENTURES TARGETS DEBT RECOVERY.
- Article from:
- AsiaPulse News
- Article date:
- November 29, 2005
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PERTH, Nov 29 Asia Pulse - Struggling wine group Global Wine Ventures (ASX:QWV), formerly Xanadu Wines, it hopes to have collected on between A$3.5 million (US$2.6 million) and $4 million of debt within six months.
Realising the debt is another step in the company's restructure that began earlier this year, resulting in the .16 million sales of its Xanadu Wines Business in June.
Global Wine is owed money from debtors around the world and chairman Graham Keys said he was confident the debts would be cleared in the short term.
"It is going to be six months while we settle down the financial position of the company," Mr Keys told journalists after ...