Crushpad's Assets Go on the Auction Block
Crushpad's Assets Go on the Auction Block
Aug 7, 2012 6
(WineSpectator) - The assets of Sonoma, Calif.-based Crushpad are scheduled to go under the gavel Aug. 7 following months of speculation about the company’s solvency. Those assets include wines made by current customers of the do-it-yourself custom-crush winery.
As many as 500 customers have wine in barrels at the Crushpad facility located at Sebastiani Winery in Sonoma that they have already paid for. The company, founded in San Francisco in 2004, has struggled since the 2008 economic crisis. But in June of this year—after CEO Peter Ekman warned investors the company would fail without additional financing—customers began reporting that Crushpad would not let them remove wine from the facility.
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