Paragon Vintners to close down

Paragon Vintners, the UK wine distribution arm of Angostura Suisse, will cease to operate. The firm has entered into consultation with its 28 staff and will close down soon.   
 
The company distributes a number of wine brands including Chile's De Martino, Alsace's Trimbach and Portugal's Quinta do Noval as well as spirits such as Angostura Bitters, Hine Vintage Cognacs and Barbancourt rum, according to Off Licence News.

The source quoted the company as saying: "We have made significant progress in reviving the business over the last year despite the many legacy issues that were inherited. The economic climate coupled with the rapid devaluation of sterling has made the ongoing trading position of Paragon unattractive."