Scottish wine merchant fails as the recession ends
Scotland's oldest wine merchant Cockburn's of Leith has fallen victim to the recession having traded for over 200 years through 2 world wars and the great depression of the 1930s. The wine merchant was established in 1796 by Robert Cockburn who came from the same family as the founder of Cockburn's Port. Cockburns is said to have been hit by a substantial drop in orders from the major banks but has also been squeezed by competition from the supermarkets. Adminstrators Ernst & Young extended the deadline for bids to buy the merchant saying they had plenty of interest from potential suitors.