Vintage Wine Estates enters Chapter 11 with plans to sell substantially all assets

Client(s) Vintage Wine Estates, Inc.

Jones Day is representing Vintage Wine Estates, Inc. and 11 of its direct and indirect subsidiaries (collectively, the "Debtors") in their chapter 11 cases pending in the United States Bankruptcy Court for the District of Delaware (the "Chapter 11 Cases").

The Debtors comprise one of the largest growers, distributors and wholesalers of wine in the United States, and have filed the Chapter 11 Cases intending to sell all or substantially all of their assets, which includes more than 30 brands, 11 wineries and 9 tasting rooms, through one or more sale transactions. The Debtors 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. The Debtors intend to seek confirmation of a chapter 11 plan following the successful sale of their assets.