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

"I was informed that Viansa is among the wineries affected by Vintage Wine Estates' bankruptcy and the planned layoffs that will touch nearly 400 employees across four counties; the job cuts are slated for late September or early October pending bankruptcy approval, and there is only a chance a buyer might save some positions. Vintage Wine Estates cited declining wine demand, a 375,000-ton surplus of unpicked grapes, roughly $475 million in assets versus $400 million in debt, and said it will pursue asset sales and voluntarily delist." - Justine Jones