Treasury Wine flags $260m writedown

Group looks to draw a line under troubled year with a new business model, eyes 'reset' in 2015

Treasury Wines (TWE) 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.

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