Vintage Wine Estates, Inc.: going-concern / distress — Vintage Wine Estates files for Chapter 11 bankruptcy, plans to delist from Nasdaq

Vintage Wine Estates, Inc.

Filed Chapter 11 petitions in Delaware; $310M in outstanding loans under Credit Agreement accelerated.
Seeks Bankruptcy Court approval of $60.5M DIP revolving facility from prepetition lenders to fund operations.
Voluntarily delisting common stock and warrants from Nasdaq; expects effective ~Aug 15, 2024; intends to deregister with SEC.
Completed sale of Cosentino Winery real property and equipment for $10.5M cash; proceeds used to pay down debt.
Company engaged GLC Advisors for asset sale process; multiple preliminary indications of interest received.

item 1.03 item 2.04 item 3.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Vintage Wine Estates, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2024-07-24).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of Delaware
Petition: 2024-07-24

Exact text from the filing

filed a voluntary petition for reorganization (collectively, the “Chapter 11 Cases”) under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).

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Source: SEC EDGAR

accession 0000950170-24-085857

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