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From: lewis.perdue@wineindustryinsight.com

Subject: Aqua Dulce & Lockeford Bankruptcies, April Wine Brand Winner And Loser Data, Cosentino

Date: 2009-05-13 20:54:44

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WINE INDUSTRY INSIGHT

EMAIL EDITION - VOLUME I, NUMBER 87 - May 14, 2009

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THIS ISSUE SPONSORED BY:

Hinman & Carmichael     Miramont Estate: Put our prize-winning wine in your bottles

INSIDE THIS ISSUE:

  • April Wine Brand Winner And Loser Data Show Overall Market Improvement

  •  Cosentino’s Strong Consumer Support Not Reflected In Financials

  • Aqua Dulce Vineyards Files For Chapter 11

  •  Copperford/Olde Lockeford Winery Faces Bankruptcy Trustee Hearing



WINE INDUSTRY INSIGHT ORIGINAL REPORTING

Cosentino’s Strong Consumer Support Not Reflected In Financials

An hour or so at Cosentino Winery’s Yountville tasting room will show the most skeptical observer that the pricey vintner has a strong core of fans and supporters that would be a credit to anyone selling wine.

Unfortunately, that isn’t reflected in the overall company’s financial situation or stock price.

SHARE PRICE: BRIEF BOOM FOLLOWED BY LONG, STEADY DECLINE

Cosentino Signature Wines (MCOZ.L) which trades on the London Stock Exchange’s AIM small-cap board, closed at 3 pence on May 6, near its all time low of 2.65p. The company went public in late 2005 at 128p, climbed as high as 141.5p on Sept.  18, 2006 then dropped to 25p by the end of that year. The stock rallied to 46 p in October 2007 and has been in decline ever since thanks to a steady stream of bad news, and gloomy financials.

The company’s annual report for 2008 is due this month.

A TASTING ROOM OPERATION THAT MOST VINTNERS WOULD ENVY

While Cosentino Signature Wines’ impenetrable tangle of multiple Limited Liability Corporations (mostly in Delaware) leaves the observer asking “why the complexity?” and “where has all the money gone?”  the Yountville tasting room offers total transparency on the loyalty and enthusiasm that wine drinkers have for Mitch Cosentino’s vintages.

On a rainy Saturday just before 11 a.m.,  the parking lot was full and the south end a tangle of stretch limos. Inside, people packed the tasting room bar three deep, all to get a chance to pay $15 for a tasting.

EVERY DEMOGRAPHIC, BUT TRENDING TOWARD YOUNG AND HIP

At one end, a group of eight or ten stylishly dressed Millenials, obviously one of the limo parties. Net to them, GenX couple, he in a blazer, she in an obviously aged Cosentino sweatshirt. Two others proudly wore vintage Cosentino shirts as evidence of their veteran connoisseurship.

Boomers were abundant as expected and a few old enough to have given birth to them. But the presence of so many young, hip, enthusiastic people spoke of customers into the future. It is an accomplishment many other wineries wished they could achieve — especially those, like Consentino, who sell wines costing up to $160.

Next to me, when a spot finally opened up, a man and his wife from Silicon Valley. Members of the Connoiseur-level wine club for 10 years, they said. It cost them $800 to $2000 per year, but they had bought still more wine at the tasting room.

Clearly, whatever is plaguing Cosentino, it’s not a lack of enthusiastic fans willing to pay their ultra-premium prices.


WINE INDUSTRY INSIGHT ORIGINAL REPORTING

April Wine Brand Winner And Loser Data Show Overall Market Improvement

The overall environment for the top 100 largest-selling brands improved in April with just 25 reporting sales declines versus 47 losing in March.

SOLID GAINS FOR THE TOP 10 WINNERS

Data from Information Resources Inc. (IRI) for the four-week period ending April 19, show solid overall sale gains –  up to 96.6 percent — for the top ten winners and smaller loses — -36.3 percent — for the bottom 10 losing brands.

iri-wii-brandwinnerslosersapril-vip-041909

VIP Subscribers: Click  to download the Excel file for all of the 100 largest brands.

Also in this article:

  • FAMILIAR BRANDS AMONG BOTH WINNERS AND LOSERS
  • TOP LARGEST BRANDS ALL FINISH WITH GAINS

largest10brandsapril2009performance

VIP Subscribers click here to read the rest of the article.

Not a subscriber? Subscribe now, and get the rest of this original article along with the spreadsheet and everything else on the site every day, including the Data Cellar for just $9.99 per month or $115.88 per year. Click here for more details.


WINE INDUSTRY INSIGHT ORIGINAL REPORTING

Aqua Dulce Vineyards Files For Chapter 11

Family owned Aqua Dulce Vineyards of Santa Clarita has filed for Chapter 11 in U.S. Bankruptcy Court for the Central Division of California.

The next court hearing is scheduled for 2 p.m., June 11 at 21041 Burbank Blvd., Woodland Hills.

Also in this article:

  • WESTERN COMMERCIAL BANK LEADS LIST OF SECURED CREDITORS
  • BROAD RANGE OF FIRMS IN LIST OF THE 20 LARGEST UNSECURED CREDITORS
  • BANK’S VINEYARD FORECLOSURE, CONSULTANT DEMAND PRECIPITATED CH11
  • PARTNER BUYOUT DEBT STARTED PATH TO CASH CRISIS
  • CREDIT CARD PROCESSOR SNAFU TURNED CASH CRUNCH INTO MAJOR CRISIS

VIP Subscribers click here to read the rest of the article.

Not a subscriber? Subscribe now, and get the rest of this 1058-word original article along with the legal filings and everything else on the site every day, including the Data Cellar for just $9.99 per month or $115.88 per year. Click here for more details.


WINE INDUSTRY INSIGHT ORIGINAL REPORTING

Copperford/Olde Lockeford Winery Faces Bankruptcy Trustee Hearing

Copperford LLC, dba Olde Lockeford Winery, Vino Piazza and other names, are set to argue against the imposition of a Trustee during a hearing in U.S. Bankruptcy Court scheduled for 11 a.m., May 29 Sacramento.

More details to follow next week.

Key court documents are available to VIP Premium subscribers in the Data Cellar. Those documents (listed below) include, among other data:

  • List of secured creditors
  • List of Unsecured Creditors
  • Liens and court cases
  • Transcripts of examination proceedings
  • Assets & Liabilities

COPPERFORD/OLDE LOCKEFORD DOCUMENTS IN THE DATA CELLAR:

Copperford - Karyn Litchfield Suport Use Of Collateral - filed 042009
Copperford - Initial Chapter11 Filing -filed 110408
Copperford - Full Summary Of Schedules - filed 111908
Copperford - Colafrancesco Motion To Support Trustee filed 042209
Copperford - Scott Motion Opposing Collateral Supporting Trustee - filed 041409
Copperford - Amended Summary Of Schedules - filed 120208

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================= CONTACT DATA ====================
Lewis Perdue
670 W. Napa St., Suite H, Sonoma, CA 95476
Phone: 707-326-4503, fax: 707-940-4146
Email: lewis.perdue@wineindustryinsight.com