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.

All that is clear at present is that it is not being shipped. The revolutionary model of Underground Cellar looked, from the outside at least, like a winner. Yours truly received such a message that seemed odd given that I assumed that a literal bottle was set aside in their climate-controlled warehouse in Napa with my name on it. I paid for it, after all. Not so. Other customers apparently had issues even earlier having wines they had purchased actually shipped.

Underground cellar bankruptcy

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. They might not always get the wines they ordered, but when that happened, they were upgraded to wines worth more than what they paid—possibly much more. Many customers, including Dannemeyer, were drawn to Underground Cellar during the pandemic. And then this website sent out emails three times a day. With all the negativity out there, it was a fun way to buy wine. The concept of the mystery boxes was hatched, founder Jeff Shaw told Wine Spectator , when he was a year-old growing up in Arizona. And there was a holographic card of the great Charles Barkley.

While typically most businesses cover these costs and do not include them in charges to customers, Underground Cellar is no longer an actively operating business able to pay for warehouse operations and these services must be factored into the underground cellar bankruptcy costs.

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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.

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. He said the Liquid Lotus bid was by far the best offer received and would allow customers to retrieve their purchased wine, at their own cost.

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Please note LCC is not responsible for incorrect shipping addresses entered at checkout. Many customers complain about stiff shipping fees, often far exceeding the value of their wines. Underground Cellars may be gone, but its records of customer purchases live on. Aaron Romano Collin Dreizen. You Might Also Like News. It even remains a matter of speculation if the wine is indeed actually stored somewhere and exists. As customers came forward to decry follow-through on shipments of wine that had been paid for, the Ponzi-like scheme eventually came catastrophically undone. 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. They allow Last Call Capital, a fulfillment service hired by Triple Point, to determine who owns which wines in the warehouse and what they paid. All requests to buy back customer wine must be received by email or postmarked by Dec.

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When I started Underground Cellars, I thought, why not apply the same idea to mystery packs of wine? In addition, the maximum case size Fedex will ship is 12 bottles so larger orders are guaranteed to ship in multiple shipments. Every bottle was purchased by customers of Underground Cellar, a San Francisco-based internet retailer boasting 24, clients. 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. Many customers, including Dannemeyer, were drawn to Underground Cellar during the pandemic. Triple Point claimed that, as lien holder, the wine belonged to it. And then this website sent out emails three times a day. Not so. Triple Point also agreed to allow customers whose paid-for wine could not be found in the warehouse estimated to be 20 percent of orders to receive alternate bottles so long as they paid the 21 percent surcharge. All orders are shipped via FedEx with tracking and adult signature required. 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. 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.