Vinfolio is to relaunch under new ownership.
VF Wine, Inc. bought the San Francisco-based internet wine services provider’s assets for an undisclosed sum after it filed for bankruptcy protection in January.
Former Constellation CEO Jon Moramarco is a part owner, as is Jean-Michel Valette MW (former chairman of Robert Mondavi Winery) – who sat on Vinfolio’s original board.
‘The new Vinfolio will continue to focus on great wines and great service. The difference may be that the old Vinfolio was a technology company that happened to sell wine,’ Moramarco told decanter.com.
‘The new Vinfolio is a wine company that strongly utilises technology.’
While original CEO Steve Bachmann is not involved, other former employees are part of the new company, which will go by the same name.
A CEO from the wine industry will be announced shortly.
New investors will not be paid until any legitimate claims against the old company are resolved.
Vinfolio had raised $4.5m (£3m) and opened a Hong Kong office shortly before it ceased trading.
It had partnership arrangements with jancisrobinson.com and CellarTracker, an online inventory management system.
‘The new owners are certainly interested in resuming a relationship with CellarTracker, and I am open to discussions with them,’ Eric LeVine, CellarTracker’s founder, told decanter.com.
‘I was very pleased that ultimately all of my customers referred to Vinfolio via the Marketplace were made whole. That said I am extremely cautious going forward.’
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Written by Maggie Rosen