Thousands of bottles of Cava wine inventory sold
Some specialty wines that were in the inventory of the now closed Cava Secreta store in Saskatoon have been sold to a different wine store.
Cava shut down in May after running afoul of the province's liquor licensing agency.
About 19,000 bottles of wine have been in legal limbo, as the store also had to deal with numerous creditors.
On Friday, a court ruled that the wine may be sold to Brad Laidlaw, the owner of a soon-to-open wine boutique, for about $600,000.
"There's some very nice vintages, some very high end wines," Laidlaw said about the stock he will have. "Anyone who's familiar with the Cava inventory and operation knows they had some very high quality wines so we feel fortunate we can sell those."
Proceeds from the sale will be used to pay creditors, which include the TD Bank, the Saskatchewan Finance ministry and former Cava employees.
How much each will get has not been determined.
Another 1,000 bottles of Cava wines were not included in the sale, as their status is in dispute.