US: 360 Global insists bankruptcy will not harm Viansa
By just-drinks.com editorial team | 13 March 2007
California's 360 Global Wine Co. has insisted its application for Chapter 11 bankruptcy will not affect operations its Viansa winery.
The company said last night (12 March) that wines from the winery will continue to be sold despite it filing for bankruptcy after running up reported debts worth US$39m.
John Bryan has been appointed CEO and chief restructuring officer to guide the company through Chapter 11, 360 Global added.
Bryan was unavailable for comment as just-drinks went to press.
In December, 360 Global had boasted that it was set to seal the US$25m acquisition of an unnamed US-based wine and spirits group.
Sectors: Wine
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That information is not correct, the bankruptcy has already had an adverse affect on Viansa. I am a member of the Viansa Tuscan club and as such pay for a monthly shipment of wine. As of today (April 2, 2007) neither my monthly shipments for February or March have been shipped to me. In addition, my January shipment was returned to Viansa due to damage in shipment and it has not been re-sent to me either. Despite continued assurances from Viansa customer service that the wine would be shipped soon, it has not.
I would not be surprised to see this cost Viansa / 360 many of their long-time customers.
Neil-USA said at 9:31 pm, April 2, 2007
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