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The filing for bankruptcy by Vintage Wine Estates has raised pressing questions about the state of the wine market. With the company's public offering occurring just a few years prior, in 2020, the rapid decline has left industry experts baffled. Rob McMillan, a leading wine business analyst, suggests that the situation is indicative of larger trends affecting the market.
McMillan notes that while the fine wine segment shows some resilience, the lower-priced wine sector, which primarily includes products ranging from $15 to $20, is currently struggling. He attributes this to a generational shift where younger consumers are drinking less wine compared to their older counterparts.