Vintage Wine Estates (VWE) just unveiled an update.
Vintage Wine Estates, Inc. and its subsidiaries, collectively known as the Debtors, have filed for Chapter 11 bankruptcy, which has led to Nasdaq announcing the delisting of the company’s common stock and warrants. The company has decided not to appeal this determination and plans to voluntarily deregister from the stock exchange, with trading to be suspended shortly. Amidst these financial struggles, Patrick Roney has resigned as Executive Chairman, although his resignation is not due to disagreements with the company’s practices. The company warns that trading its securities is now highly speculative, and investors could face significant losses.
For detailed information about VWE stock, go to TipRanks’ Stock Analysis page.
