Vintage Wine Estates, Inc.: restructuring charge — Vintage Wine Estates expects $130M-$145M non-cash impairment charges for Q2 FY2023

Vintage Wine Estates, Inc.

Goodwill impairment of $120M-$130M in Wholesale and B2B segments.
Intangible asset impairment of $10M-$15M for Layer Cake and ACE Cider trademarks.
Total debt $308M, cash $25M, $40M revolver available as of March 31, 2023.
Cost reduction actions yielding ~$10M annualized profit improvement; headcount reduced 4%.
Expects to file Q2 results by end of April 2023.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Vintage Wine Estates, Inc. announced a impairment with charges of approximately $120 million to $130 million affecting Wholesale and Business-to-Business reporting units.

Type: impairment
Charge: approximately $120 million to $130 million
Affected area: Wholesale and Business-to-Business reporting units

Exact text from the filing

we estimate a goodwill impairment ranging from approximately $120 million to $130 million related to our Wholesale and Business-to-Business reporting units

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Vintage Wine Estates, Inc. announced a impairment with charges of approximately $10 million to $15 million affecting Layer Cake and ACE trademarks.

Type: impairment
Charge: approximately $10 million to $15 million
Affected area: Layer Cake and ACE trademarks

Exact text from the filing

an intangible asset impairment ranging from approximately $10 million to $15 million related to our Layer Cake and ACE trademarks

View on SEC.gov

Browse all restructurings & charges →

Source: SEC EDGAR

accession 0000950170-23-011936

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.