The business, which was founded by Charlie Young and Brett Woonton in 2005 and which is based on the vinotecas and enotecas of Spain and Italy, has filed a court notice of its intention to appoint administrators to secure breathing space from creditors. It may fall into insolvency unless it restructures its debts within 10 days.
Vinoteca operates five London sites in Chiswick, Borough Yards, Farringdon, the City and King’s Cross. In July last year it made its first move outside of the capital to Birmingham with the opening of a 4,500sq ft venue in the Paradise development, billed as the city’s largest wine bar, but the venue closed in May after less than a year.
At the time the group said that the challenges of the economic landscape had proved too great for the Chamberlain Square site.