Shareholders of a privately-owned wine store in Saskatoon have fired the company's chief executive officer after the store lost its liquor licence.

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Cameron Rizos, seen in a CBC-TV interview on April 23, was removed as CEO of Cava Secreta and Cava Wines and Spirits on Sunday. (CBC)

Members of the Cava Secreta Shareholders Group, which owns Cava Wines and Spirits in Saskatoon, voted on Sunday to remove Cameron Rizos from any involvement in the company.

Cava Wines will close its doors on May 29, after the Saskatchewan Liquor and Gaming Authority revoked the store's licence to sell liquor.

The SLGA said the store violated the terms of its licence by buying wine directly from suppliers, when it's supposed to import its alcohol through the authority.

Rizos admitted earlier this month that he did briefly purchase wine from a supplier in Alberta last spring, but he said he did so after the SLGA cut off its supply.

"We have obligations to our customers, but we must also meet our obligations to the SLGA, to shareholders, financial partners and the law," interim CEO Brad Birnie said in a release.

"Mr. Rizos clearly was not fulfilling all of these obligations and has been putting our company and our investments in jeopardy for a long time."

In the release, the shareholders said they "took Rizos to task for the past two years over his lack of financial accountability to the shareholders and the board."