Festive cheer? Not in Bordeaux!

See also Bordeaux 2013 – Parker delays primeurs verdict.

Négociants in Bordeaux are facing a worrying Christmas and 2014, according to Jean-Christophe Mau, manager of Ch Brown in Péssac-Leognan and Ch Preuillac in the Médoc.

The problems have started because châteaux are now demanding payment for the 2012 vintage, which in many cases négociants have been unable to sell. To generate cash to service these debts, they are apparently having to sell their stocks of 2011 – at well below the price that was originally paid. As is now abundantly clear, it was an overpriced vintage, and is widely considered...