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Boltons Investments Ltd has become the latest wine investment group to go into liquidation.
The UK-based company went into creditors’ voluntary liquidation on 9 September, with chartered accountancy group Wilkins Kennedy appointed to assist.
It is not known whether all of the company’s clients will be able to get access to their wines, which are stored at London City Bond (LCB).
Boltons Investments had three accounts at LCB. If the stock in the two trade accounts there cannot be linked to individual investors, then it may be treated as assets of the company.
A creditors’ meeting will be held on 26 September 2013 at Wilkins Kennedy’s Central London offices. Wilkins Kennedy said it was ‘in the process of assessing claims and asset values and more information will be given at the creditors’ meeting’.
The latest accounts for Boltons, formed in 2010 out of its predecessor Bordeaux Connoisseurs, showed a loss of £273,070 for the year to the end of March 2012, versus a loss of £59,350 the previous year.
Written by Jim Budd
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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.