Silicon Valley Bank Closure Leaves Wine Industry Clients in the Weeds

There may not be quick answers to the biggest questions facing the wine industry after Silicon Valley Bank collapsed on Friday — including the future of the bank’s landmark wine industry report.

Last week’s abrupt closure of Silicon Valley Bank left many in the wine industry fumbling for financing and wondering where their money went. But over the weekend, President Biden announced that all SVB customers would have access to all their deposits by today (Monday, March 13). Beyond that reassurance, though, the future of the bank’s holdings remains in question. Already, Silicon Valley Bank UK Limited (which is a legally separate company to SVB in the U.S.) has been sold to HSBC, the largest bank in Europe.

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