One-third of Australia’s wineries could go under because of the Coronavirus pandemic, industry warns.
Projected losses increase as winery size decreases with wineries producing 1,000 to 5,000 cases expected to see lost revenue of 47.5% and wineries producing under 1,000 cases or less expected to lose 66% of revenue.
No events. Fewer visitors. Wineries are just trying to survive the new reality due to Coronavirus closures.
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Survey questions looked at “the overall effects on employment, production, tourism, sales, expenses, and total financial loss.”
Analysts are even more concerned about the long-term affects the virus will continue to have on wine sales in a weakened economy.