Just a year after selling off an online wine retailer for $2.5 million, Braintree-based Vinification Ventures Inc. has filed a Chapter 7 bankruptcy petition for its in-home wine tasting company.
Vinification Ventures listed debt of at least $6 million for Traveling Vineyard in court documents filed on Wednesday. Traveling Vineyard is seeking to liquidate after eight years in business.
I never liked the Traveling Vineyard business model (and I have been asked many many many times if I would like to host a tasting with them). To start with I am not really a fan of MLM-type businesses. but in this case their selection of wine was just horrible.
I love wine tastings, and wish I could host more. A good wine tasting has a variety of wines and some unique surprises. When all of your wines are from 2 or 3 different regions in California it is very difficult to generate excitement about the wines, or to find something truly unique.
Also, wine tasting (at least to me) should be about the fun of spending time with friends and enjoying new and interesting wine, not about the pressure to buy wine (especially, frankly, overpriced bland wine).