I don't buy Cameron Hughes wines, but my next door neighbor is a big fan so I do get to taste a number of them. So this tidbit in the Shanken daily rag did catch my eye:
•California’s Cameron Hughes Wine has entered receivership on the order of the Superior Court of San Francisco, owing to $15.3 million in outstanding debts to Union Bank. A statement from Cameron Hughes Wine (CHW), whose three-tier channel sales and marketing is handled by V2 Wine Group, said CHW is not insolvent, and is committed to its business and working with the bank to restructure its debt. In court proceedings in March, CHW blamed tightening borrowing restrictions by the bank as contributing to its debt issues. Among other disagreements, CHW asserted in court documents that Union Bank hindered it from replenishing inventory for its profitable Costco and direct-to-consumer channels, and disregarded an offer from New Star Financial to take over debt owed to Union Bank. Cameron Hughes told SND last year that it expected to sell around half a million cases for calendar 2014, with Costco accounting for about 25% of its business.•California’s Cameron Hughes Wine has entered receivership on the order of the Superior Court of San Francisco, owing to $15.3 million in outstanding debts to Union Bank. A statement from Cameron Hughes Wine (CHW), whose three-tier channel sales and marketing is handled by V2 Wine Group, said CHW is not insolvent, and is committed to its business and working with the bank to restructure its debt. In court proceedings in March, CHW blamed tightening borrowing restrictions by the bank as contributing to its debt issues. Among other disagreements, CHW asserted in court documents that Union Bank hindered it from replenishing inventory for its profitable Costco and direct-to-consumer channels, and disregarded an offer from New Star Financial to take over debt owed to Union Bank. Cameron Hughes told SND last year that it expected to sell around half a million cases for calendar 2014, with Costco accounting for about 25% of its business.