California's Oldest Family Winery Files for Bankruptcy
Listen to the story
Gundlach Bundschu Winery is in Sonoma Valley, California. It is the oldest family winery in California. The winery started in 1858.
Now the winery has money problems. It has filed for bankruptcy. This is called Chapter 11. It is a way for a business to fix money problems.
The winery makes wine. A family winery means one family owns it. Gundlach Bundschu is very old and very famous in California.
People do not know what will happen next. Many people hope the winery can stay open.
Vocabulary15 words
- bankruptcy
- when a business cannot pay its money problems
- Chapter 11
- a legal way for a business to fix big money problems
- wine
- a drink made from grapes
- family winery
- a wine business owned by one family
- Sonoma Valley
- a place in California known for making wine
- founded
- started; began
- oldest
- the one that started first, a long time ago
- money problems
- trouble paying bills or debts
- business
- a company that makes or sells things
- filed
- sent official papers to ask for something
- fix
- to make something better or right again
- famous
- known by many people
- stay open
- to keep working, not close
- California
- a state in the USA
- own
- to have something that belongs to you
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Quiz
Answer key
1. A family winery 2. 1858 3. Chapter 11 bankruptcy
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Gundlach Bundschu Winery is in _____ Valley, California. It is the _____ family winery in California. The winery started in _____.
Now the winery has _____ problems. It has filed for _____. This is called Chapter _____. It is a way for a business to fix money problems.
The winery makes _____. A family winery means one _____ owns it. Gundlach Bundschu is very old and very _____ in California.
People do not know what will happen next. Many people hope the winery can stay _____.
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