The Cellaret, a company set up recently with an office address in Rosebery Avenue, London EC1 to offer futures in 2005 bordeaux, is reported to have ceased trading, although it takes some doing to lose money selling futures in that particular vintage at this stage, long before delivery. Letters have apparently been received by Bordeaux negociants from an administrator acting on the company's behalf.
Check out their website www.thecellaret.com and you'll see what looks like a smart business but it seems to have come from nowhere, only to go straight back there. No old wine trade hands involved, but none of the...