Bordeaux Wine Enthusiasts

Almost all articles regarding this issue mention that Bill Koch also lost money. But I seriously doubt it. The Koch name mentioned in the filing is owed 71 bucks and the address looks like an apartment in oregon. Whether the writers have known that Koch is buying stuff from PC under a pseudo name which they have unearthed or it's just some plain lazy journalism...

Bad reporting for many reasons. For example,

"Some clients would just say to Premier Cru, 'Well, hang on to it for a while, I don't need it yet,'" he said. "That allowed the company to keep the money for a lot longer, and for the whole process to continue."

Once PC had the wine in house a customer could have it sent. PC was not gaining on the float at that point.

stefan wrote:Bad reporting for many reasons. For example,

"Some clients would just say to Premier Cru, 'Well, hang on to it for a while, I don't need it yet,'" he said. "That allowed the company to keep the money for a lot longer, and for the whole process to continue."

Once PC had the wine in house a customer could have it sent. PC was not gaining on the float at that point.

Sometimes they fulfilled cranky customers long standing orders with wine that was marked as waiting for shipment to another customer. So I suppose in that sense having the undelivered wine allowed them to continue their float game for a bit longer. People who noticed how their 'in stock' wines fluctuated were victimized by that particularly shady practice.

Oh, I never experienced that, Arv.

PC never ever notified me that a pre-arrival wine was in and ready to ship. They often failed to update my online account as well. I had to start calling every few months.

If they did that for all of their customers, I imagine that many did just let the wine sit, unaware that it was in. Of course in retrospect it may be that many of the wines were not only not in, but not even purchased until customers started agitating for delivery.