Vintage Wine Estates, Inc.: going-concern / distress — Vintage Wine Estates files Chapter 11 bankruptcy, receives Nasdaq delisting notice; Chairman steps down

Vintage Wine Estates, Inc.

Filed Chapter 11 bankruptcy on July 24, 2024, in Delaware; case jointly administered under Meier's Wine Cellars Acquisition, LLC.
Nasdaq delisting notice received July 24; common stock (VWE) and warrants (VWEWW) trading suspended Aug 2; no appeal.
Executive Chairman Patrick Roney resigned effective Aug 1, 2024; not related to any disagreement.
Company warns equity holders could experience significant or complete loss depending on Chapter 11 outcome.
Securities may trade on Pink Open Market if a market maker sponsors, but no assurances given.

item 1.03 item 3.01 item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Patrick Roney

Executive Chairman of the Board

Vintage Wine Estates, Inc.

Effective: 2024-08-01
Filed: July 30, 2024, 7:59 PM ET

On July 29, 2024, Patrick Roney notified the Board of his decision to resign from his position as Executive Chairman of the Board, effective August 1, 2024.

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

On July 24, 2024, Vintage Wine Estates, Inc., a Nevada corporation (the “Company”) and certain of its subsidiaries (collectively, the “Debtors”) filed a voluntary petition for reorganization (collectively, the “Chapter 11 Cases”) under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).

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Executive change SEC 8-K Item 5.02 confidence 0.95

Patrick Roney resigned as Executive Chairman of the Board at Vintage Wine Estates, Inc..

Action: resigned
Role: Executive Chairman of the Board

Exact text from the filing

On July 29, 2024, Patrick Roney notified the Board of his decision to resign from his position as Executive Chairman of the Board, effective August 1, 2024.

View on SEC.gov

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Source: SEC EDGAR

accession 0000950170-24-087506

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