The bidder is buying the business and its receivables.. they may pay 50 cents on the dollar for the receivables since they come with the bother of reuniting owners in order to get paid... and they will charge for pulling and delivering the cases to owners who do pay off receivables and want the cases out. but many owners need to store the wine somewhere (away from bodies of water) so there is some incremental value in the customer as well... I know if Vintage Wine Warehouse or Domaine end up with my goods... after inspection they will keep the goods...
There would prob be an inventory done as part of transfer so a new buyer should not be liable for events prior to the sale.
So it isn't simple but the competitors are looking at it and potentially preparing a number...
And some board members may have gotten some wine out... if so, they could comment on what they found
Mark Golodetz wrote:Give somebody possession of wines, with no stake at all, and asking him (or her) to deal with the fall out from the missing and the damaged bottles, and then make them responsible for distribution, when most of them are already lawyered up.
Who for instance gets a particular bottle of 1982 Trotanoy when there 43 floating around in storage? (that is an example, I have no idea what is there). And then we already know wine is damaged, missing, probably pilfered. And can one prove when the bottles did go missing, and could the new buyer find himself liable?
Yeah, this is a headache which no sane person would want.