Another winery bites the dust

Another winery bites the dust

Postby Cactusflower » Jan 13th, 2018, 3:03 pm

https://www.castanet.net/news/Penticton ... p-for-sale

Who didn't see this coming? I wonder how much it's going to cost to rip out all the grapevines and replant fruit trees? That's the only way they're going to sell a vineyard in the Okanagan now. Serves them right for jumping on a collapsing bandwagon.

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Re: Another winery bites the dust

Postby LTD » Jan 13th, 2018, 3:09 pm

serves them right? where does it say its failing or that theyre on hard times maybe they just want to retire maybe they have a different business venture they want to pursue why would there be any need to rip out all the grapes why do you even care its none of your business unless you plan on buying it

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Re: Another winery bites the dust

Postby GordonH » Jan 13th, 2018, 3:17 pm

Maybe one of longer standing wineries in the area, would be interested in taking this one over/purchasing it.
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Re: Another winery bites the dust

Postby Fancy » Jan 13th, 2018, 3:53 pm

GordonH wrote:Maybe one of longer standing wineries in the area, would be interested in taking this one over/purchasing it.
That's happened before. There are over 2 dozen wineries along that road and some outstanding wines. I'm thinking the owners will make a pretty penny after doing it for a few years and go on to the next venture.
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Re: Another winery bites the dust

Postby twobits » Jan 13th, 2018, 5:34 pm

Y'all must have missed my post in the BC forum about the absurd amount of unsold BC wines in storage. There is a glut of it on the market. I see these winery sales as a sign of the writing on the wall of over investment and production being realized.
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Re: Another winery bites the dust

Postby dogspoiler » Jan 13th, 2018, 5:46 pm

I can solve that problem with one word. SALE.
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Re: Another winery bites the dust

Postby twobits » Jan 13th, 2018, 6:32 pm

dogspoiler wrote:I can solve that problem with one word. SALE.


They can't because the inventory is leveraged to the banks. Think underwater mortgage holder.
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Re: Another winery bites the dust

Postby vegas1500 » Jan 13th, 2018, 6:45 pm

Cactusflower wrote:https://www.castanet.net/news/Penticton/216150/Another-winery-up-for-sale

Who didn't see this coming? I wonder how much it's going to cost to rip out all the grapevines and replant fruit trees? That's the only way they're going to sell a vineyard in the Okanagan now. Serves them right for jumping on a collapsing bandwagon.


It doesn’t say so but even if they did fall on hard times I find it absolutely pathetic that someone would say “serves them right”. They are not drug dealers that got caught....they are hard working people that took a chance and opened a business. I hope they didn’t fall on hard times and with the sale they walk away with a handsome profit!!

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Re: Another winery bites the dust

Postby Cactusflower » Jan 13th, 2018, 7:09 pm

vegas1500 wrote:
Cactusflower wrote:https://www.castanet.net/news/Penticton/216150/Another-winery-up-for-sale

Who didn't see this coming? I wonder how much it's going to cost to rip out all the grapevines and replant fruit trees? That's the only way they're going to sell a vineyard in the Okanagan now. Serves them right for jumping on a collapsing bandwagon.


It doesn’t say so but even if they did fall on hard times I find it absolutely pathetic that someone would say “serves them right”. They are not drug dealers that got caught....they are hard working people that took a chance and opened a business. I hope they didn’t fall on hard times and with the sale they walk away with a handsome profit!!


Read the story. They didn't just 'fall on hard times'. They bought a peach and apricot orchard in 2003, decided (as many other orchardists in the valley did) that they could make a killing if they ripped all the fruit trees out and planted wine grapes instead. So now there's a big glut of wine on the market and they want out. Would you buy this vineyard now? Anyone with a lick of business sense wouldn't.

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Re: Another winery bites the dust

Postby RupertBear » Jan 13th, 2018, 7:16 pm

This is still an evolving industry in the Okanagan. I think there will still be corrections in pricing. I buy a lot of Okanagan wines, but usually when I’m entertaining visitors to the valley or for a nice dinner with friends. For my day to day glass of vino, I’d much rather spend $13 for a nice glass of French Syrah or Argentinian Malbec than spend $26 for a similar quality Okanagan wine.

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Re: Another winery bites the dust

Postby Bsuds » Jan 13th, 2018, 8:39 pm

Lots of speculation from people who know nothing about this business. Maybe a health issue is the cause of the sale. That's just as likely as anything else.
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Re: Another winery bites the dust

Postby GordonH » Jan 13th, 2018, 8:46 pm

Bsuds wrote:Lots of speculation from people who know nothing about this business. Maybe a health issue is the cause of the sale. That's just as likely as anything else.


You maybe on to something here, unhealthy wine sales... lol ..... I'd better blank-off now :runforlife:
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Re: Another winery bites the dust

Postby Queen K » Jan 13th, 2018, 8:47 pm

vegas1500 wrote:
Cactusflower wrote:https://www.castanet.net/news/Penticton/216150/Another-winery-up-for-sale

Who didn't see this coming? I wonder how much it's going to cost to rip out all the grapevines and replant fruit trees? That's the only way they're going to sell a vineyard in the Okanagan now. Serves them right for jumping on a collapsing bandwagon.


It doesn’t say so but even if they did fall on hard times I find it absolutely pathetic that someone would say “serves them right”. They are not drug dealers that got caught....they are hard working people that took a chance and opened a business. I hope they didn’t fall on hard times and with the sale they walk away with a handsome profit!!


Absolutely Vegas1500. They went with a trend that looked good, put a lot of blood sweat and tears into it and here we have someone claiming they deserved to lose it all. Pathetic. Sorry Cactusflower but the wine industry wasn't in trouble when they bought the vineyard, they were likely capitalizing on hard work and marketing to make a venture successful. I find your glee distasteful to say the least. Vinager to you.
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Re: Another winery bites the dust

Postby vegas1500 » Jan 13th, 2018, 9:02 pm

Who didn't see this coming? I wonder how much it's going to cost to rip out all the grapevines and replant fruit trees? That's the only way they're going to sell a vineyard in the Okanagan now. Serves them right for jumping on a collapsing bandwagon.[/quote]

It doesn’t say so but even if they did fall on hard times I find it absolutely pathetic that someone would say “serves them right”. They are not drug dealers that got caught....they are hard working people that took a chance and opened a business. I hope they didn’t fall on hard times and with the sale they walk away with a handsome profit!![/quote]

Read the story. They didn't just 'fall on hard times'. They bought a peach and apricot orchard in 2003, decided (as many other orchardists in the valley did) that they could make a killing if they ripped all the fruit trees out and planted wine grapes instead. So now there's a big glut of wine on the market and they want out. Would you buy this vineyard now? Anyone with a lick of business sense wouldn't.[/quote]


I did read the story......who cares what they bought and when they bought it. They worked hard to try and better themselves and I hope they do/did. Please let the bank come take your car, truck, bike, home, or whatever because I’m sure it serves you right......

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Re: Another winery bites the dust

Postby Queen K » Jan 13th, 2018, 10:23 pm

People sell for all kinds of reasons and may not disclose the real reason because it's none of our freaking biz.

I find the "bites the dust" distasteful, sorry C.flower be a prickly as you want, but we will react. I hope no one was cheering for the demise of my business, the partnership dissolved because I chose full time with benefits once I had a rental and a house. I wonder how many people distastefully mischaracterized my situation.
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