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Another wine investment wine company goes bust

Wine investment company Beaumont Vintners, set up in June 2010, has gone into liquidation leaving a deficiency of £1.5 million pounds - the value of the wines and the return the investors could have expected to receive. Customers placed orders for c.£700,000 worth of 2009 Bordeaux en primeur however the company only paid and ordered £30-£40,000 of wine which is thought to be their sole asset.

Accountancy firm Grant Thornton are looking into the liquidation and trying to follow the money trail. The directorship of the company is unclear - Samuel Philips was the sole director, appointed in November last year on the resignation of Stephen Carpenter, who remained a signatory. Another director, Richard Evans, resigned in February 2011. At a recent creditor's meeting Philips declined to name those who actually ran the company.

Five months ago another wine investment company Bordeaux UK went into liquidation with creditors’ claims amounting to between £8m and £10m, while assets consisted of between £300,000 and £400,000 worth of stock, and £2m of Bordeaux 2009 bought en primeur. Creditors are likely to only get 30p per pound.