Vintage Wine Estate, Major US Wine Producer, Files for Bankruptcy

California-based Vintage Wine Estate, one of the largest winemakers in the United States, has filed for bankruptcy as a surge in demand during the COVID-19 pandemic turned into a slump in subsequent years.
“Over the preceding months, the Company experienced negative financial headwinds that severely impacted its liquidity position,” according to a press release by Vintage, which filed for Chapter 11 bankruptcy at the U.S. Bankruptcy Court in the District of Delaware on Wednesday.
“In response, the Company explored several solutions to overcome these challenges,” the company said on July 24. Selling off all assets was seen as “the most viable path.”…