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

"I saw that Laetitia Vineyard & Winery is included among the wineries hit by Vintage Wine Estates' Chapter 11 bankruptcy and planned layoffs affecting nearly 400 employees across four counties; the cuts are expected in late September or early October pending approval, and there is a possibility, but no guarantee, that a buyer could hire some employees. Vintage Wine Estates cited falling wine demand, a surplus of 375,000 tons of unpicked grapes, about $475 million in assets against $400 million in debt, and intends to sell assets and voluntarily delist." - Justine Jones