The Economic Times

Californias oldest family-owned winery files for bankruptcy after more than 160 years. Why exactly this winery went out of business?

Gundlach Bundschu Winery, a landmark in California's rich vinicultural history, has initiated Chapter 11 bankruptcy proceedings due to mounting debts. The winery's expansion prior to the pandemic backfired, leading to a financial crunch amidst a struggling wine market marked by decreasing demand and surplus inventory. Nevertheless, the family-led establishment plans to explore investment opportunities to ensure a resilient future while embarking on a restructuring process.