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“For us to disclose any information about the New Vine’s board would have to accept or reject an New Vine spokeswoman Charlotte Milan told the San Franciscl Business Times , adding that no further information about New Vine’s negotiations with two or three potential buyers is likely to be available June 4. Late Wednesdah and very early Thursday informed sources told the Businesx Timesthat 1-800-Flowers.com appeared set to win the sweepstakews to buy the broken pieces of New Vine, whicg startled the wine industry late last week by abruptly suspendingy operations.
As of early Thursdayg morning, an announcement of a deal with 1-800-Flowers, which owns the Wine Tastingg Network Servicesshipping company, appearedd to be imminent. But that deal brokse down sometime in thewee hours, leaving New Vine’s future Wine Tasting Network, according to its LinkedIn profile, provides winert and wine club direct marketing services, as well as fulfillment and e-commerce services to wineriez and wine retailers. Officials at WTN did not immediatelyt respond to requestsfor comment, but many in the industry see WTN as the most logicak player to pick up some of New Vine’sx pieces.
New Vine, which two yearas ago seemed poised to ship 20 percentof California’s direct-to-consumer wine market, laid off much of its staffd on Friday and brusquely told customersw over the weekend that it was no longere receiving or processing The move left many Wine Country providera scrambling to gather information and to figure out how to get back inventoryh at New Vine’s American Canyon warehoused so they could ship it to customers another way. Publishedc accounts said some ofthe company’s venturee capital investors effectively pulled the plug last week, by decliningh to invest additional capital in New Vine.
“Some people changed theifr minds at the last saidBarbara Insel, a wine industry analystr who has served on New Vine’s advisory Kathleen Hoertkorn, New Vine Logistics’ founder and former CEO, and Chairman of the Boarr Homer Dunn said Tuesday that New Vine is workin g with customers “to transfer all servicess to another means of legal directt shipping, and in the meantime, is finalizintg all work, including compiling of reports, reconcilintg inventory and invoices, and performing all of the necessaryy business operations for the mont (sic) of May and June.
” Hoertkorhn added, in response to reports that the company knew or must have known it was in financial that officials “truly believed that they wouldx have been funded and were not expectinfg to have to cease operations.” The companyt had more than 200 customers and roughlg 110 employees as of last sources say. It now has a skeletobn crew of about 30 staffers at its Napa headquarters and Americahn Canyonshipping facility, including a handful of executivees who are working to wind down operations.
New Vine was startec in 2001 on the notion that it coulf help expedite shipments to consumers in variouws states with confusing and complicated legal restrictiond onwine shipments, a lingering legacy of the Prohibitionh years in America. Financial backers include Menlo Park’es , Altos Ventures, and San Francisco’s LLC, whichn reportedly pulled its people out ofNew Vine’x offices late last Thursday.
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