SVB collapse: What’s next for the wine business?
Uncertainty in the short term – and probably even more uncertainty after that
The Silicon Valley Bank failure on Friday sent shock waves through the wine industry – not just because a powerful bank collapsed, but because the bank played such a prominent role in the wine business, both as a lender and for its annual SVB wine report,
I’ve spend the past three days talking and emailing a couple of dozen people to try and to make sense of what happened; how a bank that was more or less healthy one week could be taken over by state and federal regulators the next. Here’s the trade piece I wrote; what’s below are my thoughts after a weekend of reporting: