Crushpad bankruptcy sale goes ahead
The assets of the California winery Crushpad have been sold for over $650,000 to two new companies created by CastleGate Partners but hundreds of clients of Crushpad want to know what will happen to their barrels of wine. The sale price of the assets is apparently less than Crushpad's total outstanding debt - an undisclosed amount.
Lawyers representing clients and grape growers who haven't been paid attended the public auction in San Francisco where CastleGate were the sole bidders and want to know who own the title to the wine and how clients could obtain their finished products.
Since the sale clients have been informed that they must pay fees to obtain their bottled and barreled wine.