Four Takeaways From the Bankruptcy Filing Rocking a California Wine Company | Eater SF

"I learned that Clos Pegase is listed among the wineries hit by Vintage Wine Estates' Chapter 11 filing, meaning its staff are included in nearly 400 employees slated for layoffs across four California counties; those cuts are expected in late September or early October pending bankruptcy approval, and there is only some hope a buyer could emerge to hire some employees. The parent company cited falling wine demand after pandemic-era surges and reported a surplus of 375,000 tons of unpicked grapes, roughly $475 million in assets against $400 million in debt, and plans to sell assets and voluntarily delist from the stock exchange." - Justine Jones