Moana Park Winery has gone into voluntary administration.
The Puketapu-based, multi-award winning winery, which is officially registered as World's Best Little Wine Company Ltd, chose to take that step itself on Tuesday.
Owned by Daniel and Kaylea Barker, the family business, has made a name for itself with a focus on producing natural, low allergen wines.
It's also considered one of the stars of the Hawke's Bay events scene, and hosts the annual Another Day in Taradise.
Adminstrator Heath Gair said it was business as usual at the winery while options to repay creditors were assessed.
"The directors took this step because the company faced a recovery action from a creditor and was unable to enter into a settlement arrangement," Gair said.
One of the major shareholders in the company, Anne Deitz, said she could not comment on specifics, but hoped the company pulled through.
"He's [Daniel Barker], I think probably one of the best winemakers there is, he is very, very good, and he works so hard.
"We've always thought that, he's won lots of awards, and made a lot of good wine.
"I think together, they'll will come through this well."
Deitz said she and her husband Michael invested in Moana Park Winery because of their belief in the Barkers, as well as their desire to invest in land in Hawke's Bay.
"We admire them a lot."
She was unable to comment on the future of the company, or what voluntary administration meant for their investment, but said they had been made aware prior to it happening.
The Barkers were approached for comment.
Voluntary administration is when a person independent from the company assesses options when the company becomes insolvent.
As is the case with Moana Park, directors of a company can choose to go into administration, but can also be forced to.
Recently, construction company Arrow International made headlines for entering voluntary administration.