Going Once, Going Twice, VWE Assets Sold

Dear Client:   Earlier this summer, Vintage Wine Estates filed for Chapter 11 bankruptcy [see WSD 07-24-2024]. Less than a month later, stalking horse bids started rolling in for the company's assets.  VWE filed for bankruptcy after a tumultuous few years as a public company. At the time of the bankruptcy filing, the company had about $310 million in outstanding loans and commitments.  Today a hearing was held in the US Bankruptcy Court District of Delaware to consider the bids