Already a subscriber?Prominent South Australian businessman Ed Peter appointed his wife to run one of his investment empire’s unlisted hospitality funds after he fell out with his business partner, publican Brett Matthews.
The move came as Mr Peter appointed his son, and Ms Chronis’ son, to other roles inside the business. Duxton Pubs was established in 2020 to expand a hotel group Mr Peter had established with Mr Matthews and Martin Palmer. He also bought luxury wine brand Yarra Yering in Victoria’s Yarra Valley in 2019. It makes wine at the upper end of the wine category, with its flagship Dry Red No.1 and Dry Red No.2 selling for more than $130 per bottle.
A number of Duxton companies – particularly those invested in the wine and agriculture sectors – are selling property and assets with the vineyard business cutting jobs and struggling to pay creditors. Duxton has also stopped investors fromDeutsche Bank, an initial backer of Duxton, sold over seven million shares in the ASX-listed Duxton Farms in early September, ceasing to be a substantial shareholder. The company’s share price fell nine per cent that day.