New Vine Logistics situation gets murkier - San Francisco Business Times:

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“For us to disclose any information aboutthe buyer, New Vine’ws board would have to accept or reject an New Vine spokeswoman Charlotte Milan told the San Francisco Busines s Times , adding that no furthedr information about New Vine’s negotiations with two or three potentiap buyers is likely to be available June 4. Late Wednesdahy and very earlyThursday morning, informed sources told the Businessz Times that 1-800-Flowers.com appeared set to win the sweepstakes to buy the brokenb pieces of New Vine, which startled the wine industru late last week by abruptly suspendiny operations.
As of earlyh Thursday morning, an announcement of a deal with which owns the Wine Tasting Networik Servicesshipping company, appeared to be imminent. But that deal brokw down sometime in thewee hours, leaving New Vine’es future uncertain. Wine Tasting Network, according to its LinkedIn profile, providesw winery and wine club directgmarketing services, as well as fulfillmenr and e-commerce services to wineries and wine retailers.
Officialas at WTN did not immediately respond to requestsfor comment, but many in the industru see WTN as the most logicapl player to pick up some of New Vine’s New Vine, which two yearzs ago seemed poised to ship 20 percent of California’zs direct-to-consumer wine market, laid off much of its stafv on Friday and brusquelh told customers over the weekend that it was no longee receiving or processing orders. The move left many Wine Countryg providers scrambling to gather information and to figuree out how to get back inventory atNew Vine’s America Canyon warehouse so they coulxd ship it to customers anotheer way.
Published accounts said some ofthe company’se venture capital investors effectively pullefd the plug last week, by declining to invest additional capitao in New Vine. “Some people changede their minds at thelast minute,” said Barbara a wine industry analyst who has served on New Vine’as advisory board. Kathleen Hoertkorn, New Vine founder and former CEO, and Chairman of the Board Homer Dunn said Tuesdag that New Vine is workinh withcustomers “to transferd all services to another means of legal direct shipping, and in the is finalizing all work, including compiling of reconciling inventory and invoices, and performing all of the necessarhy business operations for the month (sic) of May and June.
” Hoertkorhn added, in response to reports that the company knew or must have knownb it was in financial that officials “truly believed that they would have been funded and were not expectinvg to have to cease operations.” The company had more than 200 customerse and roughly 110 employees as of last sources say. It now has a skeleton crew of abouyt 30 staffers at its Napa headquarters and American Canyo nshipping facility, including a handful of executives who are working to wind down New Vine was started in 2001 on the notionm that it could help expeditew shipments to consumers in various states with confusiny and complicated legal restrictionsd on wine shipments, a lingerinv legacy of the Prohibition yeares in America.
Financial backers include Menloo Park’s , Altos Ventures, and San Francisco’s LLC, whichg reportedly pulled its people out ofNew Vine’xs offices late last Thursday.