Tuesday, 8 July 2014
En Primeur Ltd: into voluntary liquidation
Sorry, the website www.en-primeur.co.uk cannot be found
Recent listing for En Primeur Ltd on wine-searcher
En Primeur Ltd, which was based in Crawley and specialised in en primeur Bordeaux, is going into voluntary liquidation. A creditors' meeting will be held on 16th July at the Marriott Hotel in Bexleyheath. The arrangements are being handled by Abbott Fielding Ltd in Sidcup.
The company was founded on 28th September 2006 with 45-year-old Marco Correira as the sole director. He was also the major shareholder with 85% of the £100 share capital with the remaining 15% held by Roberto Correira.
As the name suggests the company focused on selling en primeur, especially Bordeaux. Doubtless this made sense in 2006 but the recent collapse of the en primeur market highlighted by the miserable 2013 campaign probably was responsible for bringing down the company.
There is no suggestion that En Primeur Ltd was not a legitimately run company, although the margins on the wines may well have been very tight and the practice in the heady en primeur popularity days of offering guaranteed prices on First Growths well before the price was released by the châteaux was doubtful.
It is not yet known what the final deficit will be – six figures yes but probably at the lower end of this.
En Primeur Ltd's financial position is far worse than than initial thought. See updated post on my investdrinks' blog here.