{"api":{"host":"https:\/\/pinot.decanter.com","authorization":"Bearer NmJjOWViYzEyZDY4NzI4MGM0YzlhNjNiYmNlM2I1ZDBlNjRjNjgxODI1OTIwNTVjMzY2MjRmNmU3YTE0N2U2YQ","version":"2.0"},"piano":{"sandbox":"false","aid":"6qv8OniKQO","rid":"RJXC8OC","offerId":"OFPHMJWYB8UK","offerTemplateId":"OFPHMJWYB8UK","wcTemplateId":"OTOW5EUWVZ4B"}}

Troubled CL Financial puts ChateauOnline up for sale

One of France’s biggest online wine retailers, ChateauOnline.fr, has unexpectedly been put up for sale.

ChateauOnline’s owner, Trinidad and Tobago-based CL Financial, has suffered financial difficulties due to the global economic crisis. Its UK wine operation Paragon Vintners went into administration earlier this year.

Evelyne Resnick, a wine consultant specialising in web marketing, told decanter.com, ‘I am surprised Chateauonline is up for sale because the site is doing very well. However, that could make it a good time to sell, as they are expecting to break even for the first time this year.’

Fabrice Bernard, a director at Wine & Co, another leading internet wine site, denied they would be interested in purchasing the site. ‘We are always looking for opportunities for expansion. 70% of new clients are coming through our website, but this is not an opportunity that we will be pursuing.’

According to a report by Bordeaux’s business school earlier this year, ChateauOnline receives 150,000 visitors a month, with annual revenue of 10 million euros.

WATCH our brilliant new How to store wine video with Steven Spurrier

Written by Jane Anson

Latest Wine News