Vinfolio Enters Restructuring
According to CEO Stephen Bachmann’s blog post earlier today, Internet wine retailer Vinfolio “undertook a form of restructuring known as an Assignment for the Benefit of Creditors.” Operations will continue during the restructuring, according to the post.
As I’ve posted on this blog, I worked for Vinfolio for almost two years in 2006-2007. The people at that company-some of the friendliest and most knowledgeable wine experts you’ll ever meet-were almost wholly responsible for my blossoming from tech nerd to swirling wine snob. On the technical side, Vinfolio was in industry leader. The engineering team I worked with turned out some of the best wine software available today. It’s an honor to have worked with everyone there and I wish them, and Vinfolio, all the best.
I’ll update this post as coverage comes in from around the Internet.
Vinfolio CEO’s blog post.
Totally bonkers thread on the Squires message board
Slightly more restrained thread on WLTV.
Biz journals article that largely recycles the CEO’s blog post.
Dr. Vino’s post
Wine Industry Insight with more about what “Assignment for the Benefit of Creditors” means
Wine Spectator’s story with some more information as the week goes on.
