US write-down hits Treasury Wine Estates hard as it reports AU$1 billion loss

Treasury Wine Estates has reported a AU$1 billion loss in its latest financial results, driven largely by a significant write-down in its US operations. The Australian wine giant, which owns brands including Penfolds and Beaulieu Vineyard, faces mounting pressures in one of its key markets. This will have ripple effects across UK and EU importers and retailers who stock TWE's extensive portfolio.