Twee Jonge Gezellen placed under liquidation


In September 2011 Twee Jonge Gezzellen Wine bramptonwines Twee Jonge Gezellen placed under liquidation
by Bramptonwines
Estate in Tulbach was placed under provisional liquidation after it transpired that their Land Bank loan could not be repaid. On Friday, 11 November the Western Cape High Court granted a final liquidation order, as reported in Die Burger on Sunday.

Twee Jonge Gezellen is the oldest family farm in the pioneer district of Tulbagh and the second oldest family-owned wine estate in South Africa. The estate has been in the same family since 1710. The House of Krone is one of South Africa’s finest Methode Cap Classique producers.

In court papers, sole director Nicolas Krone said the financial difficulties started when the business suffered a loss of earnings of R21.6m after it was allegedly supplied with contaminated bottles. The issue led to unsuccessful litigation and an additional R1.5m in suppliers’ costs, which it was ordered to pay. Later, the business also started falling into arrears with the Land Bank. Twee Jonge Gezellen owes the Land Bank R38m.