Comments on: Inertia Buys New Vine: Revelations

By: Adam

Adam — Mon, 17 Aug 2009 05:53:42 +0000

Tim– were you able to get your inventory out of NV? Has this whole debacle cost you money as well?

I know New Vine has since been taken over by IBG.

By: Tim

Tim — Wed, 24 Jun 2009 18:38:19 +0000

We submitted NV a inventory transfer request on June 1st in order to pull our inventory out. Several days later we received a phone call to ‘reconsider’ since they may be up and running soon (the IBG solution). We never received any other phone or emails from them regarding the closure or anything going on there. We did however recieve information from our ecommerce vendor eWinery which helped us immensely.

Three weeks later, now, I had to bitch via email and phone calls to get a status on our request to pull our inventory. I finally received an email stating an outstanding small balance due on our account. No mention was given to the thousands we have in balance on our vintage funds account in order to facilitate the 3-Tier process. With cash in hand this morning I was given more of the usual NV run around, asked to leave the property, and probably wont get our wine out for several more weeks!

By: Scott

Scott — Sat, 20 Jun 2009 17:26:37 +0000

When IBG closes on the debt it purchased from Silicon Valley it has 2 choices for New Vine Forclose on the debt take control of company and infuse 20 million dollars to keep it afloat or force the NVL board to put it into bankruptcy. Neither makes financial sense given the largest revenue customers except those with cash flow issues remain. The value of New Vine was lost when it hired COO Carol and blew millions in losses.

Any winery keeping with NVL now is risking their future. Remember wineshopper.com/wine.com once bankruptcy papers are filed it will be 120 days before the court will allow wineries to pull their wines then your holiday is screwed. Do you trust your wine to the risky prospect of reorg?

Run to WTN Services, Copper Peak or Bacchus as fast as you can. Rumor is all three are partnered with WTN Services leading three tier solution that mirrors NVL’s so WTN has created a home for everyone in the NVL craigmire for all client types.

By: Emily

Emily — Fri, 05 Jun 2009 19:12:24 +0000

One very large reason why many will stay at NV is that they have paid thousands to make their wines compliant (label registered, price posted, etc.) in the 3-tier states that were offered through NV’s program. Move now and you have to start all over again. And that’s ignoring the cost and time lost to make the move.

Of course, the first point is only valid if Inertia maintains the current 3-tier clearance set-up that’s in place.

By: Tom Wark

Tom Wark — Fri, 05 Jun 2009 19:04:45 +0000

Josh:

Insightful as always. I can tell you that right now the top priority is to get NVL fulfillment and compliance capabilities operational ASAP!!

Cheers,
Tom…