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Wine cellars could be raided to raise much needed cash flow for restaurants

By James Russell: Wine cellars could be raided to raise much needed cash flow for restaurants

April 5, 2020

Restaurants across the US are selling their premium wine inventory to raise much needed cash flow resulting from their doors closing to diners. US wine collectors have at the same time been very much in the market to meet demand and are eagerly snapping up bargains.

From New York to California, collections that have taken years to come together to compliment dishes across America’s bastions of fine dining have being going under the internet hammer, and being sold in minutes.

Prices have been garage sale rather than Michelin star, and supply continues to feed demand that is growing.

Many fine dining restaurants in the UK could soon follow the trend, much as it may pain them to being forced to do so.

For many restaurateurs their wine collections are not only financially precious they become emotionally precious also. Like many of life’s luxuries currently however, they may have to be forgone in the interest of wider self-preservation.

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