News from Jerez 8.6.12

Back in Business, the company which buys ailing firms. has been relieved by the Courts of the management of the Grupo Nueva Rumasa  bodegas (mainly Garvey and Zoilo Ruiz Mateos) for fear of asset sales. Administrators have been appointed as no effective management or business trajectory seems to be in place, and the Courts are worried that there may be covert dealings between Jose Maria Ruiz Mateos and Angel de Cabo, owner of Back in Business. They deny this, of course, but from frequent bodega visits and interviews with staff, the Court feels its view is justified.