60 growers file for bankruptcy amid Muscadet 'meltdown'
60 growers file for bankruptcy amid Muscadet 'meltdown'
Oct 26, 2010 6
Up to one-third of Muscadet's wine growers are facing financial ruin thanks to a 'meltdown' in export markets amid unsustainable pricing levels.According to Loire Valley wine broker Charles Sydney, around 60 Muscadet vignerons have filed for bankruptcy since this year’s harvest.
A total of 150-200 vignerons are expected to go out of business in the next few months.
Growers have been hit by a number of factors, including the after-effects of 2008’s devastating spring frost, which destroyed up to two-thirds of the crop - and now vineyards are being abandoned or neglected.
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