One of California’s oldest family-owned wineries is facing a major financial crossroads after more than a century and a half in business. The historic Sonoma County producer has turned to bankruptcy protection while searching for a path forward.
Historic winery files for bankruptcy
Gundlach Bundschu Winery, which dates back to 1858, filed for Chapter 11 bankruptcy protection in September. The Sonoma winery has reportedly accumulated more than $37 million in debt and is seeking a new investor as it works through the restructuring process.
Despite the bankruptcy filing, the winery has continued operating, including its winery and tasting room in Sonoma Valley.
The company is one of California’s oldest continuously family-owned wineries, with a history stretching back to the 19th century. Its long operating history makes the bankruptcy particularly notable as California’s wine industry continues to face economic pressures.
Workforce already reduced
Gundlach Bundschu had already taken steps to reduce expenses before entering bankruptcy…