Vintage Wine Estates confirms chapter 11 plan of liquidation following sale of substantially all assets

Client(s) Vintage Wine Estates, Inc.

Jones Day represented Vintage Wine Estates, Inc. and 11 of its direct and indirect subsidiaries (collectively, the "Debtors") in their chapter 11 cases in the United States Bankruptcy Court for the District of Delaware (the "Chapter 11 Cases"). At the filing of their Chapter 11 Cases, the Debtors comprised one of the largest growers, distributors, and wholesalers of wine in the United States and entered chapter 11 with approximately $310 million in secured debt and successfully negotiated a $60.5 million debtor-in-possession financing facility, including $26.5 million of new money, with their prepetition secured lenders. Jones Day advised the Debtors in the sale of substantially all of their assets in 10 primary sale transactions, that included more than 30 brands, 11 wineries, and nine tasting rooms, for approximately $158 million. Following the closing of the sale transactions, Jones Day advised the Debtors in negotiating a chapter 11 plan of liquidation, which was confirmed on a fully consensual basis on February 26, 2025. The Debtors' chapter 11 plan went effective on February 28, 2025.