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 underground cellar bankruptcy, 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.

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?

They allow Last Call Capital, underground cellar bankruptcy, a fulfillment service hired by Triple Point, to determine who owns which wines in the warehouse and what they paid. It is not owned by the debtor; it is owned by the customer.

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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. On its website, it names "recent market headwinds" and "inability to secure financing" in an "increasingly challenging capital market" as reasons for its decision to file for bankruptcy. What a scam. How can this be legal?

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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Robert Taylor. 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. In the testy battle that followed, Triple Point agreed to reduce its surcharge to 21 percent of the actual price paid by customers for their wine. How much is shipping? In accordance with the terms established in bankruptcy court, the claims portal is now redirected from the undergroundcellar. Kristen Bieler. In addition, the maximum case size Fedex will ship is 12 bottles so larger orders are guaranteed to ship in multiple shipments. All orders are shipped via FedEx with tracking and adult signature required. Why did I only receive part of my order? Sour Wine Underground Cellars may be gone, but its records of customer purchases live on. If the charge remains on your card after 7 business days, please contact us. And there was a holographic card of the great Charles Barkley. 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. Suzanne Mustacich.

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.

Restaurant Search. When I started Underground Cellars, I thought, why not apply the same idea to mystery packs of wine? Which shipping carrier do you use? Wine Spectator Podcasts Get the App. It is not owned by the debtor; it is owned by the customer. Who Gets the Underground Cellar Wines? 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 overall costs. Please note LCC is not responsible for incorrect shipping addresses entered at checkout. 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. 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.