BVI ceases trading
Published: 23 July, 2008
Wine investment company Bordeaux Vintners Ltd, trading as BVI, has ceased trading. Tim Dunton, the sole director, wrote to investors on 22 July telling them that not all the wine they had paid for was available due to the failure of one of his suppliers.
Dunton estimated the total wine sales at around 2.5 million. Because BVI's prices were high the actual value is probably closer to 1.5 million. It is not known how much wine is missing, but it seems possible that it is mainly 2000 Bordeaux bought en primeur.
BVI's wines are stored at Octavian, which, until recently, was refusing to release wines because of outstanding storage charges. The debt has since been settled.
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