1 Day
Source:
New York Post
California winery files for Chapter 11
Gundlach Bundschu Winery, California's oldest family-owned winery, has filed for Chapter 11 bankruptcy due to a significant debt burden. Despite decades of resilience through events like earthquakes, Prohibition, wildfires, and the pandemic, the winery's financial troubles worsened after a 2020 debt-financed acquisition amid declining demand and industry challenges. The winery reassures that operations will continue during the bankruptcy process, which may lead to new ownership and investment to sustain its legacy in Sonoma.
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