EconomyOwned by a Russian, a wine estate in the...

Owned by a Russian, a wine estate in the Aude is on the verge of bankruptcy

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In the Aude, a wine estate is in the red, impacted by the war in Ukraine: the owner, Russian, of the Château de Saint-Louis, in the Corbières, can no longer supply the cash, at its lowest after a bad harvest . “We are hostage to a geopolitical conflict that is beyond us, confides Jean-Luc Parret, its manager. And which even exceeds the owner, who is not close to power. »

Already, in 2014, with the annexation of Crimea, trouble had begun. “Transfers with Russia have become more and more complicated and French banks have gradually closed the accounts of companies with Russian capital,” recalls Jean-Luc Parret, who was unable to pay the seven employees for several months.

“Banks refuse us loans”

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In the spring of 2021, frost hit the estate, which lost 70% of its harvest. “Which means a drop of around 60% on anticipated revenues for 2022, notes the manager.
But as the owner can no longer make money transfers to the company’s account, we will soon find ourselves in receivership. And, he continues, “of course, the banks refuse us the loans”, because the owner is Russian.

The only solution for this area, which exported a quarter of its production to Russia and had even recorded a slight profit in 2021, is to sell, before liquidation, estimates the manager, hoping to be able to save employees for as long as possible.

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Source: 20minutes

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