French vintners fear worst sales since post 9/11

AFP, October, 2008

BORDEAUX, France (AFP) — French wine merchants fear the growing world financial crisis could cause their worst end-of-year sales squeeze since the aftermath of the attacks of September 11, 2001.

Bordeaux-based wine merchant, Jeffrey Davies, said that while the crisis triggered by the terror attacks on New York and Washington had hit US wine sales, the economic meltdown had global implications.

"The big spenders that were ordering the top wines in top restaurants have been taken out," Davies said.

After the attacks, sales of Bordeaux wine to the United States fell by 29 percent in volume during the final quarter of 2001 -- the key Thanksgiving, Christmas and New Year period, which accounts for half of annual sales.

Sales within the European Union also...