Montevino Partners Ltd – another shocking investment bust

The Statement of Affairs has yet to appear on Companies House website. However, the following figures were provided by a creditor who attended the 28th April meeting.
 

From the £1.465 million of total debt, 53 individuals are owed £946,166 with trade customers owed £450,166 and HMRC £62,743. I assume that the 53 individuals are unfortunate investors, who thought they were buying wine from Montevino Partners but who now find that their wine was never bought and quite probably never ordered.

I understand that White has chosen to blame Brexit for the company's problems. All very convenient! However, I cannot see how Brexit prevents a company placing orders for wine for which they have received payment. 

Rest of post on my investdrinks blog here. 

Loire – more bad financial news: Pierre-Jacques Druet (Bourgueil) in liquidation

 Pierre-Jacques Druet and Marc Vanhellemont 

@Salon des Vins de Loire 2011

with a bottle of his Bourgueil Rosé that launched Les 5 du Vin 

 

No recent accounts filed

 Dates of administration and liquidation

Sadly Pierre-Jacques Druet, one of the finest winemakers in Bourgueil, has gone into liquidation. Initially the domaine went into administration (redressement judiciaire) on 11th January 2009. Then on 17th March 2016 the business unfortunately went into liquidation. Sadly I suspect that Pierre-Jacques was a way better wine producer than businessman. I know that Majestic, who sold his wine in the UK, found him increasingly unreliable with regard to fulfilling their orders. 

I understand that Druet's vineyards remain unpruned this year. A worldwide check using wine-searcher shows very few retailers carrying his wines with 2011 the most recent vintage available and most listings for vintages in the first decade of the 21st century. 

All in all this is a great shame as Pierre-Jacques made some lovely wines.   

 Druet was not easy to find!

European Fine Wines Ltd – liquidation beckons?

 

The Bromley premises of European Fine Wines Ltd:

11 Bromley Common, Bromley BR2 9LS 
(Google maps – street view)

European Fine Wines Ltd, one of the longest running dubious wine investment companies – two former directors banned for land banking scams, appears to have ceased trading and is likely to go into liquidation:

 

From investdrinks blog (for rest of post):

'The signs suggest that European Fine Wines Ltd (also called EFWines) has ceased trading and is likely to go into liquidation. The company was set up on 15th August 2005 and has been one of the longest running dubious wine investment companies.

I received an email this morning telling me that all the staff had been 'sacked'. The Bromley phone number has been unable to any calls throughout today as 'all of our lines are busy'. The company accounts have been overdue since 30th November 2013 and the company website (www.efwines.com), which was live earlier today, is now off-line and suspended. It is reported that the debts of European Fine Wines Ltd are between £500K and £1 million. It remains to be seen whether any of this is wine ordered by its clients. I suspect that there will be a number of clients who will now discover that they have paid over the odds for their investment wines.'