Blow to the wine industry: Bodega Norton went bankrupt

[VINO]

Was surprised to hear that Norton Wines declared bankruptcy today. They have been around since 1895. I wonder how the smaller vineyards are doing.

Golpe a la industria: Bodega Norton se presentó en concurso de acreedores

La noticia encendió las alarmas en el sector vitivinícola, que acumula caídas en las ventas en el consumo interno y en las exportaciones

www.lanacion.com.ar

 

[Uncle Wong]

Was surprised to hear that Norton Wines declared bankruptcy today. They have been around since 1895. I wonder how the smaller vineyards are doing.

Golpe a la industria: Bodega Norton se presentó en concurso de acreedores

La noticia encendió las alarmas en el sector vitivinícola, que acumula caídas en las ventas en el consumo interno y en las exportaciones

www.lanacion.com.ar

Vine biz sounds brutal. That reminded me of a guy I follow on X. He posted some stories about the ups and downs of owning a bodega.

 

[Blockchain]

Vine biz sounds brutal. That reminded me of a guy I follow on X. He posted some stories about the ups and downs of owning a bodega.

Ouch. I met a guy that lived in Mendoza. He thought it would be cool to own his own vineyard. He was extremely wealthy but he said it was a severely money losing operation. I would guess this guy is losing tons of money. $55 dollar bottles of wine is pricey for Argentina. I can't imagine he is doing too much volume.

 

[Bingo]

Vine biz sounds brutal. That reminded me of a guy I follow on X. He posted some stories about the ups and downs of owning a bodega.

This is what you call an expensive hobby. There are some wealthy guys in Napa that also toy around with their vineyard but lose money. Many feel like having a toy project like having your own wine but it is difficult to make money.

There are probably a lot of vendors that got stiffed that were owed a lot of money to in that area. I also wonder how many other vineyards are in the same situation.