The winery of Cairanne put into receivership

Monday March 03 2014 by Vitisphere

Having faced financial difficulties for many years, the cooperative winery of Cairanne has just been put into receivership by the Carpentras county court, on February 20th. Rumors report a debt of 3 millions euros, worsened by years of important investment. The economical balance became progressively unbearable, underlied by a production decrease context (2013 was a pretty small vintage, down to 13 000 hl according to the french newspaper le Dauphiné Libéré).

After the appointment of an authorized representative and a legal administrator, the winery’s management will face a rendorsement plan, submitted to an approval of a judge. This judge will also follow the enforcement. For the moment, there is no mention of staff cuttings.

 
 

[Source: Vitisphere; Photo: vaison-ventoux.com]

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