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PUBLIC NOTICE OF 363 SALE: Vanguard Wines, LLC

Public Notice of Bankruptcy 363 Sale: Vanguard Wines, LLC

Notice of Bankruptcy 363 Sale of Vanguard Wines, LLC, Case No. 22-51220, U.S. Bankruptcy Court, Northern District of Ohio, Eastern Division (Akron).

  1. Vanguard Wines, LLC, Debtor and Debtor in Possession (“Debtor”) is seeking to sell substantially all of its assets under Chapter 11 of the United States Bankruptcy Code pursuant to §363. The Debtor is a distributor of wine and spirits, licensed in the states of Ohio, Kentucky and Indiana, and has entered into a Stalking Horse APA with Vanguard Wine Holdings Inc., an affiliate of Boutinot USA, Inc.
  2. Bid Deadline: November 23, 2022 at 4:00 p.m. (prevailing Eastern time). Qualified Bidders must submit evidence of financial ability to consummate the transaction on or before the Bid Deadline. The stalking horse bid is approximately $1,052,000 (consisting of the estimated value of wine stock at closing of $1,000,000 plus $52,000 of fixed asset value). Initial overbid must be at least $100,000, and any overbid must be accompanied by a deposit of 10% of the proposed purchase price.
  3. Auction Date (if necessary): November 28, 2022 at 10:00 a.m. (prevailing Eastern time). An auction will take place in the event of any Qualified Bids on November 28, 2022 at 10:00 a.m. (prevailing Eastern time). The auction may be conducted remotely by video conference service.
  4. Potential Bidders who execute and deliver a confidentiality agreement will be permitted to view and conduct due diligence in the Debtor’s virtual data room concerning its wine inventory, related assets and business.
  5. Sale Hearing: November 29, at 10:00 a.m. (prevailing Eastern time). The Debtor will seek approval of the sale at the sale hearing, which is presently scheduled for November 29, 2022 at 10:00 a.m. (prevailing Eastern time), with an expected closing date of November 30, 2022.
  6. All interested parties should carefully read the Bidding Procedures Order and Bid Procedures. Copies of the Bidding Procedures Order, the Bid Procedures, the Sale Motion and the Stalking Horse APA are available upon request by contacting bankruptcy counsel for Vanguard Wines, LLC: Richard K. Stovall, Allen Stovall Neuman & Ashton LLP, [email protected] or (614) 221-8500.

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