Amsterdam’s first urban winery, Chateau Amsterdam, has been sold to two of its shareholders to prevent bankruptcy.
Founder Remy Harrewijn said the business never became profitable despite visible success with its wines and restaurant.
He described the past two years as highly stressful and said he is relieved to close this chapter.
How it began
Harrewijn and his father Jos, both trained in wine, launched the brand in 2017.
Rather than buy a vineyard, they imported grapes and made wine in a converted warehouse on an industrial site in Amsterdam-Noord.
The space had previously housed Harrewijn’s communications firm.
They blended fruit from Germany, Spain, France, Slovenia and Italy, eventually producing around twenty wines with names such as Lucky Lucy and On Cloud Nine.
Growth and pressure
Tastings drew interest, and a restaurant of the same name opened in September 2022.
Bottles reached supermarket shelves at Albert Heijn and appeared on restaurant lists; the company also struck deals that included KLM.
Outside investors and “Friends of Chateau Amsterdam” certificate holders, among them well-known Dutch entrepreneurs, put in millions as production expanded.
Cash flow remained tight because grapes are bought once a year while the finished wine can only be sold the following year.
The sale decision
Harrewijn said he needed to sell roughly twice as much wine to break even in a competitive market where Dutch wine consumption is falling.
A major investor withdrew about a year ago, and fresh capital did not arrive in time.
He first sold the restaurant to two young operators to cut costs.
Shareholders then agreed that transferring the winery itself was the only way to avoid insolvency.
Proceeds are going to creditors; earlier investors, including the friends group, lose their money.
Harrewijn remains hopeful the brand can continue under new ownership.
