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Treasury Wine flags $260m writedown

June 25, 2014

Treasury Wines will book an impairment charge of up to $260 million in fiscal 2014 as it looks to draw a line under a troubled 12 months with a new business model. The charge is the latest in a long string of writedowns at Treasury Wine and former wine business of Fosters Group, after the company overpaid for assets at the top of the market.