Chamarre enters receivership

French wine group Chamarré has gone into receivership following a string of declining sales results since its creation in 2005.

The fate of the group, which was once heralded as France’s answer to New World brands, wan announced at the Paris Stock Exchange on Friday last week.

Results show that in 2007 Chamarré managed to double its net sales to €4.8 million compared to €2.3m in 2006.

However, the net losses in both those years almost matched the sales. The latest figures show that during 2008 the group reached €6.3m in sales but lost €3.3m.

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Results for 2009 have not yet been released.

Rupert Millar, 14.06.2010