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New Crushpad owners ask customers to pay more
The new owners of Sonoma-based custom winery Crushpad are to ask customers to pay more to rescue their barrelled and bottled wines
The winery sold off its assets last week and had just one bidder, Tiburon-based CastleGate, which bought the Crushpad assets for US$654,866. CastleGate created two new companies, Structural Solutions and Aspect 2.
Confusion still exists for clients of the custom winemaking business who have wine in barrel or bottle with Crushpad, with the main issues being when they will be able to secure their wine and how much it will cost to do so.
This is set to be resolved in the next few weeks, as in an email to members sent following the sale, Crushpad vice president Steve Ryan wrote, “Over the coming weeks, the principals of CastleGate and the employees of Structured Solutions will work to resolve a very complicated situation involving multiple legal entities, several creditors holding lien rights, and numerous sophisticated and, justifiably upset customers who are concerned about the wine they have in barrel, bottle or have ordered for the 2012 vintage.”
“Together, we are building a new company focused on renewing the concept of making great wine for those without a winery of their own, or wishing to build a brand commercially. To do this, we will leverage the lessons learned by our predecessors.”
However it has been reported that the new owners of Crushpad insist that customers who want to rescue their barreled and bottled wines will have to help foot the bill for the company’s reorganisation, adding further confusion to the situation.
“We cannot cover all the services that have already been paid for,” Philip Von Burg of CastleGate Capital Advisors told the Wine Spectator.
“That exceeds $3 million.”
As many as 500 customers have wine in barrel at the do-it-yourself custom-crush winery, located at Sebastiani Winery in Sonoma.
As recently as late June, Crushpad denied it was to close. “Our doors are open for business as usual. We appreciate your support,” the company Tweeted.