“In mid-April, the whole of Crushpad Bordeaux’s operating activities were taken over by a separate entity owned by the Cazes family of Chateau Lynch-Bages. The new entity (temporarily called CCW) is well-funded, guarantees the completion and availability of all your wines and, more importantly, the continued growth and development of our Bordeaux operation.” That quote, […]
Crushpad’s Dire Email To Investors Sheds More Light On Implosion
“If we do not receive sufficient interest [in financing], we will be forced to initiate a wind-down process in the very short term.” — Peter Ekman email excerpt The following email (below) has been received by Wine Industry Insight and pertains to yesterday’s article. CEO Peter Ekman did not respond to our request for […]
Crushpad California Closing?
UPDATE & COMMENT This article received minor updates on June 19 in the following ways to reflect new information that will be included in a separate article today. A question mark was added in the headline. The lead has been modified to read ” looks like it’s close to closing its doors.” The original said […]
Barrel Stop: Frustrated Trustee Punts, Winery Gets 90 Days To Sell Or Be Foreclosed
June 1, 2012
A frustrated U.S. Bankruptcy Trustee has washed her hands of the Barrel Stop Chapter 11, leaving the winery less than 90 days to find a buyer or be foreclosed upon by its senior secured lender, Mechanics Bank. As previously reported by Wine Industry Insight, Alan Jaroslovsky, U.S. Bankruptcy Court Judge for the Eastern District of […]