2023-04-05 19:06:03 ET
- Vintage Wine Estates ( NASDAQ: VWE ) on Wednesday provided preliminary estimates of its impairment charges for Q2 2023.
- VWE said it expects total non-cash impairment charges for Q2 2023 that ended December 31, 2022 to be in the range of $130M to $145M.
- The charges include approximately $120M to $130M in estimated goodwill impairments and an estimated $10M to $15M write down in indefinite-lived tradename and trademark assets.
- "Even assuming an impairment loss on the high end of the estimate, VWE expects to remain in compliance with each of the covenants required by its bank credit agreement at December 31, 2022, including its maximum debt to capitalization ratio covenant of 0.60," the company said in a regulatory filing .
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Vintage Wine Estates sees impairment charges of $130M to $145M for Q2 2023