Alma Rosa Winery files for bankruptcy protection

General Wine Discussion (Tasting Notes, Reviews, Info, Etc...)

Alma Rosa Winery files for bankruptcy protection

Postby Laurie Jervis » Thu Aug 02, 2012 2:38 pm

The news this week that Richard and Thekla Sanford have petitioned for bankruptcy protection for their Alma Rosa Winery has triggered a flood of support from admirers of their Sta. Rita Hills winery and his devotion to the region.

Sanford, 72, one of the Central Coast's pioneering winemakers, and the only one in Santa Barbara County to be inducted into the California Vintners Hall of Fame by the Culinary Institute of America, filed Chapter 11 bankruptcy July 27, according to the United States Bankruptcy Court.

A copy of the Sanfords' petition indicates that Alma Rosa's two largest unsecured creditors are Richard Szerwo, the winery's former business manager, who claims $110,971 in severance pay, and Hillside Road LLC, the company that purchased the Sanford family's La Encantada Vineyard early in 2011.

Hillside is owed $74,543 for grapes, according to the document.

Chapter 11 bankruptcy allows the petitioner to begin reorganizing debts to creditors under guidance of the court; most who file for Chapter 11 protection intend to remain open for business in order to generate sales.

Read the full story at http://www.centralcoastwinepress.com/winetalk/?p=387

Laurie Jervis, centralcoastwinepress.com
Laurie Jervis
 
Posts: 5
Joined: Sat Jul 07, 2012 8:24 am

Return to Wine Chat

Who is online

Users browsing this forum: No registered users and 1 guest

cron