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European Fine Wines Ltd is the latest wine investment firm in the UK facing liquidation after ceasing trading.
European Fine Wines Ltd stopped trading on 22 May and insolvency specialist Abbott Fielding is preparing the group for liquidation, Decanter.com understands.
A creditors’ meeting will be held on 25th June at the Marriott Hotel in Bexleyheath.
Founded in August 2005 and based in large, self-contained offices in Bromley, south London, European Fine Wines is the latest in a string of failed companies who offered wine investments in the UK.
The company’s collapse is being blamed on a failed attempt to open an office in Hong Kong, with the loss of £800,000.
Jonathan Barr is the sole serving director. Two previous directors, David Evans and Scott Assemakis, were banned in July 2013 from serving as UK directors for 11 years.
The bans were for their involvement in running a series of land banking scams.
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Written by Jim Budd
Jim Budd moved from education to wine in 1988 and has written for Decanter since 1989. He is the former editor (1991-2015) of Circle Update, the newsletter of the Circle of Wine Writers. He writes the award-winning www.jimsloire.blogspot.com and is one of the five members of the Les 5 du Vin blog. Budd exposes the dangers of drinks investment on his award-winning www.investdrinks.org website, and complementary www.investdrinks-blog.blogspot.com blog. He also contributes to Hugh Johnson’s Pocket Wine Book, Wine Behind the Label and the Academie du Vin. Budd is a keen photographer – especially in the Loire.