When the crunch came in December 2007, R6 million ($800 000) was owed to South African suppliers. The list of unpaids includes the Stormhoek vineyard, the Stormhoek home cellar and in particular, the whole out-sourcing network (label printers, transporters, too many to mention).
One thing about bankruptcies. The money is lost.
South Africa’s wine industry is not rich. Household income, averaged out across every employee: boss, labourer, supervisor, receptionist, driver, manager, foreman, all of them, is less than R2500 per month.
None of these businesses can afford to lose R500 000.
As a result, all of the dozen or so businesses will have to decide about cutbacks: if, what, when and who.
You can help. You can own a vine
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Put R2000 ($270) into a special Stormhoek fund, based in Mauritius
(SA account now available too)
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From March 1, we at Stormhoek will contribute 5% of the production cost to a loan-repayment fund, to repay your loan with interest. When the fund has reached the target, all loans will be repaid.
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