The Bromley premises of European Fine Wines Ltd:
11 Bromley Common, Bromley BR2 9LS (Google maps – street view)
Accounts overdue since 30.11.2012
www.efwines.com – This website is currently offline
Was still on-line earlier today
The signs suggest that European Fine Wines Ltd (also called EFWines) has ceased trading and is likely to go into liquidation. The company was set up on 15th August 2005 and has been one of the longest running dubious wine investment companies.
I received an email this morning telling me that all the staff had been 'sacked'. The Bromley phone number has been unable to any calls throughout today as 'all of our lines are busy'. The company accounts have been overdue since 30th November 2013 and the company website (www.efwines.com), which was live earlier today, is now off-line and suspended. It is reported that the debts of European Fine Wines Ltd are between £500K and £1 million. It remains to be seen whether any of this is wine ordered by its clients. I suspect that there will be a number of clients who will now discover that they have paid over the odds for their investment wines.
On 16th April 2014 European Fine Wines Ltd changed its registered office from 68 Lombard Street in the City of London to 131 Edgware Road, London, W2 2AP – the address of chartered accountants Bright Grahame Murray.
About us – from website before it went down
'the aim was to run a company'
About EFWines (from their website)
'EFWines is a leading wine merchant who pride themselves on offering a diverse
portfolio of Europe's finest wines for enthusiastic wine collectors.
Established in 2005, we are specialists in building portfolios and known for
bringing our thousands of customers returns that they can toast to, read what
collectors are saying.
The aim was* to run a company that not only
offered collectable wine but also offered a complete personal service. Building
relationships with customers is key to our business model, and after advising
customers on how to build a portfolio of the most collectable wines, our
account managers maintain regular contact with our clients, providing a current
assessment of the fine wine market, together with a review of their holdings.
We are a team of people who care
passionately about fine wine. Over the past seven years we have hired key
members of staff who have previously worked in property** and finance sectors,
before bringing their expertise and knowledge into the fine wine market,
turning their interest and passion for fine wines into their profession.
Part of the team’s objective at EFWines is
to always strengthen and expand our base of technical knowledge and to keep
developing our palates. All members of staff are encouraged to develop their
own wine knowledge, and most hold WSET qualifications.
In 2010, the company decided to take
advantage of the huge demand for quality wines in the Asian market. We now
have offices in both Hong Kong and the Chinese mainland; with staff fluent
in Cantonese, Mandarin and, of course, English, we truly are able to speak the
language when it comes to selling our (and your) stock of both consumption and
premium grade wines into what is now the world's most important market.
We use the specialist fine wine storage
facilities of Vinotheque, operated by the respected bonded warehouse
operator London City Bond, (LCB)
for the storage of your wine; your collection is stored under your name and
under bond, which means there is no duty or VAT to pay. You are also able to
access, view and manage your account online through LCB’s website. Using their
independent inspection services, we are able to provide a condition report,
including photographs, of the wines before you purchase.
View which wines we
currently have in stock and note that our list is updated
regularly. If there are any wines that you have in mind and are not on our
list, let us know as we are able to source wines that are not currently in
stock.
The combination of our expertise and our
strong relations with suppliers places us at the forefront of our trade,
ensuring we can offer attractive prices to those looking for healthy returns on
their fine wine portfolio.
Let us share our enthusiasm and knowledge
with you, start building your knowledge today by calling 020 3236 0100.'
Notes:
* Interesting use of past tense – was!
** Presumably land banking – directors Scott Assemakis and David Evans struck off in 2013 for their part in these scams.
Will the associated companies live on?
32-year-old Jonathan Ross Barr is now the sole director of European Fine Wines Ltd. Back in July 2013 European Fine Wines Ltd had two of its directors – Scott Assemakis and David Evans – banned from serving as UK directors over their part in two land banking scams. See here.
Barr is a director of eight other companies: Wine Works Ltd (registered office 131 Edgware Road. Company used to be called EFWines Ltd), Sawa Wines Ltd – in the process of voluntary dissolution (previously called European Fine Wines (2012) Ltd – name change: 20.9.12), EFW Employee Services LLP, Future House (registered office 11-13 Bromley Common), Commercial House Ltd (also registered office 11-13 Bromley Common), Efw Bordeaux Ltd (founded 17.2.2014 – 131 Edgware Road), Ef Wines Ltd (founded 24.2.14 – registered office 131 Edgware Road), and Jrb Associates (founded 25.2.14 – – registered office 131 Edgware Road). Barr used to be a director of Efw Employee Services LLP (from 1st December 2013 to 30.4.2013. Company is now registered at 131 Edgware Road. Niklaus Cashman, formerly a director of The Bordeaux Wine Trading Company was briefly a director from 1.12.2012
—
30.4.2013).
Also at 131 Edgware Road is Efw Burgundy Ltd (founded 17.2.2014, sole director: 52-year-old Mrs Nichole Sanchia Forward) and Efw Rhone Ltd (founded 17.2.2014, sole director: 52-year-old Mrs Nichole Sanchia Forward).
Update 7.6.2014: Registered office changed to 142-148 Main Road, Sidcup, Kent DA14 6NZ on 5th June 2014. This is the address of Abbott Fielding Ltd, whose partner Nedim Ailyan has handled an number of insolvencies of wine investments companies including Bordeaux UK Ltd.
