Gundlach Bundschu Winery, a family winery founded in 1858, filed for Chapter 11 bankruptcy on Wednesday, Sept. 23 as the company eyes a potential new investor
NEED TO KNOW
- Gundlach Bundschu Winery, California’s oldest family-owned winery, filed for Chapter 11 bankruptcy to restructure its finances
- The winery cited pandemic-related economic pressures and a 2020 acquisition as key factors in its financial struggles
- Amid the reorganization process, the winery remains open and plans to preserve its legacy with a potential new partnership
A historic California winery has filed for bankruptcy.
Gundlach Bundschu Winery, a Sonoma, Calif. family winery founded in 1858, filed for Chapter 11 bankruptcy on Wednesday, Sept. 23, according to a voluntary petition obtained by PEOPLE.
“The family says the effects of the post-pandemic economy and an unsustainable debt burden created financial pressures it could no longer address outside a court-supervised restructuring,” said a press release shared with PEOPLE…