Any business that lasts for over 100 years has done something incredibly impressive.
When you look at the list of major American brands that have achieved that feat, you see some of the most enduring brands ever created. Coca-Cola, Harley Davidson, UPS, Boeing, Kraft Foods, Target, and Kellogg have had incredibly enduring success. That's incredibly impressive given all the changing trends and consumer demands that have happened over 100 years.
Related: Another popular beverage brand files Chapter 11 bankruptcy
When these companies were founded cars were not common, radio was the dominant media, and many modern conveniences were not even yet the stuff of science fiction yet, Thriving, not just surviving from a period where landlines were a luxury to a period where nearly everyone has what would have once been considered a supercomputer in their pocket represents a major triumph.
Just making it 100 years does not guarantee ongoing success. Sears, for example, was founded in 1892 and while it still exists, it's clinging to survival not thriving. Two other 100-plus-year-old retailers — Brooks Brothers and J.C. Penney needed to be rescued from bankruptcy to limp forward, while the nation's oldest newspaper, The Hartford Courant, is a sad shell of what it once was.
Now, one of the oldest beverage producers in the United States has filed for Chapter 11 bankruptcy.
Image source: Getty Images
Historic winemaker hits financial difficulties
When people talk about the places wine comes from, Ohio is not generally the first place you think of. Meier's Winery, however, has been making wine in Ohio since 1890.
"Ohio’s history in winemaking took root along the Ohio River near Cincinnati more than 100 years ago. Meier’s Wine Cellars, Inc. began in the late 1800s as a small grape juice business. John Michael Meier once grew his grapes on land now known as the Kenwood Towne Center north of Cincinnati. His son, John Conrad Meier, discovered in 1895 a method of bottling fresh grape juice and formed the John C. Meier Grape Juice Company, Inc.," the company shared on its website.
The company produces over 30 wines including. dessert, table, sparkling, and fruit wines. It also makes 11 flavors of sparkling/still non-alcoholic juices under John C. Meier Juice Company label.
Meier has evolved over the years and changed ownership 47 years ago while also making another major change.
"In 1976, the company was purchased by Paramount Distillers, Inc. Cleveland, Ohio, and continues today as Ohio’s oldest and largest winery producing wines and juices from Native American grape varieties. Grapes are no longer grown on North Bass Island but are purchased from independent growers in Ohio, New York, and Pennsylvania," the company posted.
Now, that long history is in danger as Meier's Winery has filed for Chapter 11 bankruptcy protection.
Sign up for the Come Cruise With Me newsletter to save money on your next (or your first) cruise.
Meier's Winery files Chapter 11 bankruptcy
Meier's Winery filed for Chapter 11 bankruptcy protection on July 24 in the United States Bankruptcy Court for the District of Delaware. The company reports that is has between 200 and 999 creditors. It also reported both assets and liabilities of between $100 and $500 million.
The company's bankruptcy case is an affiliate of Vintage Wine Estates (VWE), a California company that filed for bankruptcy on the same day. VWE purchased Meier's Winery in 2022.
Related: Historic furniture chain closing after Chapter 11 bankruptcy
“Vintage Wine Estates has a longstanding relationship with Meier’s and has been a spirits client for many years. We know their operation to be among the most well-managed in the business,” VWE CEO Pat Roney said at the time of the sale. “We are particularly excited about their expertise in ready-to-drink (“RTD”) wine and beverage alcohol production and plan to expand our RTD production, including Ace Cider products, at their facility.”
More bankruptcy:
- Tinker Toy, Tonka toymaker files Chapter 11 bankruptcy
- Another coffee and cafe company files Chapter 11 bankruptcy
- Distressed home improvement retailer plans Chapter 11 bankruptcy
The companies have been run separately, but are seeking to have their bankruptcy cases joined. Meier's bankruptcy filing shared that the company expects to sell all of its assets with unnamed creditors placing a stalking horse bid.
