Underground cellar bankruptcy

All that is clear at present is that it is not being shipped, underground cellar bankruptcy. The revolutionary model of Underground Cellar looked, from the outside at least, like a winner.

Grand Tour Tickets Now on Sale! In a section of a Napa Valley warehouse, more than half a million bottles of wine rest on pallets stacked 30 feet high. Every bottle was purchased by customers of Underground Cellar, a San Francisco-based internet retailer boasting 24, clients. Among a variety of perks, the bedrock promise of Underground Cellar was that it would store wine for free under ideal conditions until customers asked for delivery. Underground Cellar was founded by Jeff Shaw, 38, with a tempting promise—buy wines at good prices and you might also get better wine than you paid for. It then packaged the wines by themes, ranging from West Coast reds and whites to Riojas. The firm attracted customers with an adventurous, even gambling, spirit.

Underground cellar bankruptcy

The resulting events were reported on in Entrepreneur. You will find more articles with a brief search of 'Underground Cellar' on Google. This created an ownership conflict between the lending bank and the customers, both holding legal claims to the wine. A hard-fought conflict between lawyers for customers and the bank ran for over 6 months and with no resolution in sight, on October 13th, the Bankruptcy Trustee moved to abandon the dispute entirely, leaving both sides with nothing. As part of the settlement, any wine not claimed by customers by December 14th extended from December 8th became property of the bank. A copy of the Court Order can be found here , and specific details on claim process and shipping can be found here. Pick-up of the wine is not available. You will see in the document that Last Call Capital has been appointed to manage the claims process, oversee the warehouse operations, and ensure shipments are sent to customers. As a reminder, any unclaimed wine after December 14th was forfeited. Frequently Asked Questions For additional clarification, here is an overview of the current situation: On April 23, Underground Cellar UC ceased operations and declared bankruptcy the following week. Account Questions. Why is my cellar empty? I paid for non-wine items, mystery cases, etc, what happens to those? Over , bottles were made available for selection. After the initial Dec.

However, please note that shipping costs are assessed by the case, not bottle -- if you order 1 bottle your shipping cost would be the same as 12 bottles.

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Opinions expressed by Entrepreneur contributors are their own. Underground Cellar, a San Francisco -based company, could easily be a wine enthusiast's dream: for free, customers could buy and store up to bottles in the company's "temperature-controlled CloudCellar" in Napa Valley and ship them also for free whenever they wanted. In late April, the wine company abruptly halted operations , and, a few days later, filed for Chapter 7 bankruptcy, The San Francisco Chronicle reported. Gregg Thatcher, a former customer, also runs a Facebook group dedicated to discussing the current situation with Underground Cellar. It has nearly members. It's a tremendous loss for them. The nature of Underground Cellar's downfall remains unclear.

Underground cellar bankruptcy

Underground Cellar gained popularity among wine lovers because of its gamelike platform offering customers occasional upgrades to more expensive bottles than they had paid for. But earlier this year, customers started having trouble accessing the wine they had ordered. Underground Cellar filed for a chapter 7 liquidation in the U. Bankruptcy Court in Wilmington, Del. Shaw had been separated from the company months before the bankruptcy filing, according to liquidation trustee Don Beskrone.

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As late as February , just three months before its Chapter 7 filing, in what seemed a sign of confidence in its future, the company purchased seven micro-lots of elite wines at the 26th annual Premiere Napa Valley wine auction. A copy of the Court Order can be found here , and specific details on claim process and shipping can be found here. Why is my cellar empty? Robert Taylor. How Underground Cellar disappeared with millions. Do I still need to submit the claim form? Before approving the sale, she wanted a plan in place that would allow customers to retrieve their wine from the warehouse at a reasonable cost. The revolutionary model of Underground Cellar looked, from the outside at least, like a winner. Underground Cellar customers have been unable to retrieve a single bottle from the warehouse for the last seven months. As a result, some customers are choosing to select only their most expensive bottles for shipment, leaving the rest to Triple Point, or walking away altogether. You will find more articles with a brief search of 'Underground Cellar' on Google. Alison Napjus Tim Fish. And there was a holographic card of the great Charles Barkley.

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In the meantime, Underground Cellar customers who failed to record the contents of their Cloud Cellar are now out of luck in determining its contents given the disappearance of the website. After that, the wine will belong to Triple Point. The ruling in that case was that title to the wine in the warehouse remained with the debtor, which was still paying insurance premiums on the wine. Please note that shipping costs are assessed by the case, not bottle -- if you order 1 bottle your shipping cost would be the same as 12 bottles. It even remains a matter of speculation if the wine is indeed actually stored somewhere and exists. Many customers, including Dannemeyer, were drawn to Underground Cellar during the pandemic. But then several other potential buyers stepped in, ready to pay more than Liquid Lotus. Bankruptcy Trustee appointed during the bankruptcy process. Orders may arrive in multiple shipments, depending on bottle location and availability. I paid for non-wine items, mystery cases, etc, what happens to those? To reduce per-bottle shipping costs,if you place multiple orders you should optimize your selection so that each order consits of a multiple of 12 bottles. Was my account charged twice for the same order? Sour Wine Underground Cellars may be gone, but its records of customer purchases live on. They would be buying their wine all over again.