The liquidation of H&A, a Bordeaux-based company that became one of France’s largest buyers of wine barrels, has unsettled a wide part of the wine industry, from coopers to growers who had relied on its rental model to manage costs.
The company was placed in judicial liquidation in early April by the Bordeaux commercial court after saying it could no longer continue operating within its historic business model. Founded 20 years ago by Richard Hardillier and Florent Arrouy, H&A built its business on a simple idea: instead of buying barrels outright, winemakers could rent them. For many producers, that offered a way to reduce upfront spending at a time when a barrel can cost between 950 and 1,500 euros and is usually used for only three aging cycles.
That model helped H&A grow quickly. The company expanded beyond France into Spain, Italy and California, and in some years its revenue approached 400 million euros. It also amassed a large footprint in the sector, with about 2,000 clients and a fleet of roughly 1 million barrels.
But the company’s financial strain had been building for months. H&A said in a March 25 statement that it could no longer “continue its activity in its historic scope” and asked for court protection while it sought to keep operating. Two court-appointed administrators were named to look for a buyer capable of preserving the business, jobs and services. The court later confirmed the liquidation, while allowing H&A to keep operating until May 31.
In practice, the company has been insolvent since early February. It has not been able to pay suppliers, mainly coopers, whose unpaid invoices date to the end of 2025. The Federation of French Coopers says those unpaid bills amount to about 10 million euros.
The fallout is now spreading through the supply chain. Some growers fear that coopers may turn directly to them for payment on barrels even though they already paid rent through H&A’s financial partners. At the same time, service disruptions have increased: for several weeks, the company has stopped taking back used barrels from winemakers and has stopped reimbursing overpayments.
A new hearing is scheduled for April 28 at the Bordeaux commercial court, where judges are expected to consider a possible sale of the company.
Dining and Cooking