In a development which will send ‘shockwaves’ through the Bordeaux wine trade, two wine companies have gone bankrupt leaving debts of €3.5m.
La Société De Négoce L’européenne Des Vins Et Alcools and its sister company Les Caves Bordelaises were relatively small companies with around 13 staff but they are understood to have about 60 creditors owed at total of €3.5m.
Europeenne’s clients included Castel and Caves de Landiras. Les Caves Bordelaises specialised in supplying bars and restaurants.
Bordeaux journal Sud Ouest said, ‘The collapse of Europeenne may send shockwaves through Bordeaux viticulture – something the region doesn’t really need at the moment.’
The news comes some weeks after the chief executive of the two companies, Dominique Blanc, was sentenced to 10 months suspended sentence for adulterating generic Bordeaux wine with declassified wine from Languedoc-Roussillon.
Written by Adam Lechmere, and agencies