'Outrageous' wine companies boycotted

'Outrageous' wine companies boycotted News Wine News
  • Thursday 12 April 2001

Fifteen of the UK's most prominent fine wine merchants are clashing with investment companies over wine prices.

The brokers have stopped supplying several companies with shipments of fine wine because they are selling them to investors - sometimes at double the original broker's price.

The boycott, which has been in place for around three weeks, will remain 'Until companies no longer offer fine wines at greatly elevated prices,' according to London-based Corney & Barrow.

However, operations of this kind are not illegal so the government's Department of Trade and Industry cannot step in.

Among other UK merchants involved in the boycott are Berry Bros. & Rudd and Justerini & Brooks. Hew Blair of Justerini & Brooks said, 'These so-called investment companies have been making outrageous claims, charging up to double the market cost.' Blair adds, ' They are predicting 30-40 per cent increases in value year upon year.'

The boycotted groups include Goldman Williams, Stanley Knight, Millennium International Wine Sales and City Vintners. City Vintners denies the situation has impacted their business. 'We are aware of the boycott, but it's not affected our ability to supply wines,' a spokesman said.

Wine Investment


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