GreenBottle, the packaging specialist that developed a paper wine bottle, has gone into administration.
Preston-based Begbies Traynor was appointed administrator to GreenBottle Ltd on 28 February, it has been revealed, but initial hopes that the company could be rescued by a refinancing deal did not materialise, former MD Mark Eaves has told The Grocer.
The Merseyside-based company had developed a cardboard shell that could be pulp-moulded around a laminated film lining, which it claimed had been greeted with “significant” interest from the trade.
The technology was licensed to the US wine company Truett-Hurst Inc, which launched The PaperBoy brand last November. At the time, GreenBottle told The Grocer it was in the final stage of production trials, and “positive” progress had been made on the UK and European launch, which was anticipated in Q2 2014.
Last week Truett-Hurst announced it had signed a three-year agreement with California-based Ecologic Brands, which will produce the paper bottles for the PaperBoy brand, with the option to extend for a further two years.
Truett-Hurst’s CEO Phillip Hurst said the company was enthusiastic about the early sales for the PaperBoy brand, and said the move would “solidify” PaperBoy wine’s future. However, according to US newspaper the North Bay Business Journal, he admitted there may be some interruption in supply early in 2015 as a result of the change of supplier.
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