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Follow-Up Posting on Stormhoek : Orbital Wines Limited, Bulk Brokers International Limited, California Direct Limited

By Andis Kaulins

This is a follow-up posting to our last posting on Stormhoek.

Catherine Monahan writes to us as follows:

"If one is looking at only the Grocery/Specialists side of the business, then
it is true that Stormhoek was more than 25% of Orbital business.

However, Orbital also includes two other companies within it which involved
the bulk wine side of the business - which had the issues.

As i said no retailer was to blame and a big part of
the business was the California Direct/Bulk Brokers side.
In order to be accurate one must understand that these three companies
are added together in this process and speculation online is fine but
it's better when you have the right information. - Catherine Monahan"

We found the following on February 1, 2008 at the Financial Times (FT.com online) as an advert under "Businesses for Sale", which gives us a few more new facts and refers to the three businesses referred to by Catherine Monahan:

"Wine Distributor Business For Sale
United Kingdom

Financials
Asking price: Undisclosed
Sales revenue: Undisclosed
Net profit: Undisclosed
Fixtures value: Undisclosed
Stock value: Undisclosed

Business description
Bulk Brokers International Limited
Orbital Wines Limited
California Direct Limited
(In Administration)
The Joint Administrators, Andrew Stoneman and Paul Williams of Menzies Corporate
Restructuring, offer for sale, as a going concern, the business and assets of the above companies.
Wine distributors
- Owners of several international wine brands including;
- Stormhoek (SA) and
- Camden Park (Aus)
- All trade marks fully registered in the UK
- Suppliers to several major wine retailers
- Annual turnover of £8 million
- Stock of wine with retail value of circa £1.9m
- Healthy order book
- Fair trade accreditation

Offers invited ASAP, supported by proof of funding
For further information please contact:
Paul Corlett or Clare Meredith at Menzies Corporate Restructuring
Telephone: 020 7487 7240
Facsimile: 020 7487 7299
E-mail: pcorlett@menzies.co.uk
cmeredith@menzies.co.uk"

Full post as published by LawPundit on February 01, 2008 (boomark / email).