Copia closing appears permanent | Napa Valley Register

Copia closing appears permanent

The days of people wandering the edible gardens and other offerings at Copia, Napa's wine, food and arts center, appear to be permanently done. A judge on Friday rejected Copia's attempts to secure a $2 million loan to pay expenses and reopen while bankruptcy proceedings take place. Register File Photo | Buy photos

$2 million line of credit rejected

Thursday, December 11, 2008

Comment

By JENNIFER HUFFMAN
Register Business Writer

Copia Coverage

November 24th, 2009

Food Network out as potential Copia site user

October 28th, 2009

Judge expected to approve Copia bankruptcy deal in November

October 3rd, 2009

Copia officially up for sale

August 15th, 2009

Copia bankruptcy maybe almost over

August 7th, 2009

Trespassers are run off, but birds feast on fruit at Copia

Chef’s collection moves from Copia to Smithsonian

July 26th, 2009

Copia plan goes to a vote

June 27th, 2009

Copia case moves along, with flash of anger

June 26th, 2009

Copia case moves along, with flash of anger

June 12th, 2009

A new suit in Copia case

Jennifer Huffman articles

November 24th, 2009

Food Network out as potential Copia site user

November 9th, 2009

Feds close bank with Napa branch

November 4th, 2009

VOICES youth center finds new home

October 29th, 2009

Unusual love story lands pair on TV, national news, then on to Fiji

October 28th, 2009

Judge expected to approve Copia bankruptcy deal in November

Copia will close for good.

Officials of the troubled wine and food center in Napa’s Oxbow District sought a $2 million line of credit in order to stay open after filing for Chapter 11 bankruptcy reorganization earlier this month. But Copia’s bond insurer and trustee objected and on Friday, U.S. Bankruptcy Judge Alan Jaroslovsky rejected the request.

The ruling effectively signals the death knell to the center launched seven years ago as a toast to Napa Valley’s role as a center for wine and fine cuisine.

Copia CFO Joe Fischer stated in an e-mail that Copia presented the motion for a line of credit in order to continue with events and operations at the 12-acre Napa campus. The hope was that the center could reorganize, turn a profit and eventually emerge from bankruptcy.

But Copia bond insurer ACA Financial Guaranty Corporation and bond trustee Bank of New York Mellon objected. So, Copia will not get the loan it wanted.

Without the emergency funds, “At this time, it is highly unlikely that Copia will continue in any form other than to orderly wind down operations,” Fuscher wrote. “Copia and ACA are continuing discussions on the specifics of a wind-down that will benefit the bondholders, creditors, employees and local community to the best extent possible.”

The news is bad for the 385 creditors listed in Copia’s initial bankruptcy filing. Copia listed assets worth between $10 million and $50 million and liabilities of $50 million to $100 million. The main liability, while not listed in documents initially filed, is the $78 million owed to bankers.

Santa Rosa bankruptcy attorney Michael Fallon, who is not involved in the case, suggested the rejection of the credit line and Copia’s resulting decision to cease operations make it unlikely the unsecured creditors will be compensated.

“If they don’t get the financing, then they are not going to keep the doors open,” he said. “It doesn’t bode well for the unsecured creditors.”

(The Napa Valley Register is among the 385 unsecured creditors.)

Visitors who had planned to attend various Copia holiday concerts and other events are also out of luck. The center will cancel all scheduled events.

“Given that we currently are looking at a wind down, we have begun to communicate with people that have scheduled events about our inability to host them,” Fischer said.

Bond trustee, Bank of New York Mellon, had “no reaction” to the plan to wind down operations, said bank spokesman Kevin Heine.

“We represent the interests of the bond insurer, ACA,” said Heine. “We can’t speak on behalf of ACA.”

ACA did not return calls seeking comment.

Fischer was unable to comment further on the wind-down plan or timeline. The next scheduled bankruptcy court hearing in the case is Dec. 19.

46 comment(s)

Matt G wrote on Dec 10, 2008 1:45 PM:

" good for the judge for doing the right thing, and rejecting the request for more $$$ going towards the $$$-pit...

I've said it once, and I'll say it a million times: Copia represented everything wrong with Napa: it was an arrogant, boring, and, most significantly, financially uneducated representation of the wine industry...

5 minutes in the tasting room at (name any winery) is/was more entertaining and educational....in the long run, midtown's loss will be highway 29's gain "

Dwayne wrote on Dec 10, 2008 2:06 PM:

" Applause for Matt G..... :-) "

MarshaMarsha wrote on Dec 10, 2008 2:33 PM:

" Everybody SING!!!

Ding Dong the witch is dead
Which old witch?
The Wicked Witch!
Wake up - sleepy head, rub your eyes, get out of bed.
Wake up, the Wicked Witch is dead. She's gone where the goblins go,
Below - below - below. Yo-ho, let's open up and sing and ring the bells out.
Ding Dong' the merry-oh, sing it high, sing it low.
Let them know
The Wicked Witch is dead! "

Rob C wrote on Dec 10, 2008 2:51 PM:

" The right decision. Asset price discovery can now occur, allowing what's next to begin.

(And hopefully that doesn't include anybody named Altamura) "

reason-ator wrote on Dec 10, 2008 3:05 PM:

" You mean nobody will lend them money ?

It's Downtown Napa, for crying out loud. Isn't there a Merchant's Association ? "

napabicycler wrote on Dec 10, 2008 3:12 PM:

" Altamura should buy it so it can sit empty for the next 20 years, like everything else he owns in downtown Napa. "

guyfood wrote on Dec 10, 2008 3:28 PM:

" What a sad group of people that spend their time leaving nasty comments in regards to 50+ people losing their job. You must have a very depressing life. I wish you well and hope things will get better. "

BiLly wrote on Dec 10, 2008 4:09 PM:

" what can you say??? Another one bites the dust.....what is really great is how classless they were in closing the place and what a true drain the place has been.
If it were billions of dollars the federal government would have come in and loaned them money. Survival of the unfittest no longer applies in Napa. "

kbf wrote on Dec 10, 2008 4:35 PM:

" guyfood- I don't think anyone is glad that people have lost their jobs. It was not their fault the way Copia was run. "

cmoranbbp wrote on Dec 10, 2008 4:40 PM:

" It is sad that many people are loosing thier jobs but at the same time Copia I've felt has been a waiste of time and money. As Matt G said go to any winery and you'll have a much better experience. I visited Copia twice once on my own and another when family came into town and it was by far the worst thing to do. Boring and down right dull. Again I do wish the employees of Copia the best of luck in finding a job! "

Napa wrote on Dec 10, 2008 5:23 PM:

" I fully agree with MATT G. Copia stood for the elite in the valley, and gave Napa a sour name. Good Riddance! "

Dwayne wrote on Dec 10, 2008 5:39 PM:

" kbf wrote on Dec 10, 2008 4:35 PM:
" guyfood- I don't think anyone is glad that people have lost their jobs. It was not their fault the way Copia was run. "

This isn't about those jobs, it's about the elite who walked away after wasting other people's money, and it didn't cost them a dime... There are people who made money on the backs of others, and it would be great to find out who they are... "

gorillaz wrote on Dec 10, 2008 5:47 PM:

" too bad...only the attorneys will win this fight. when the assets are sold, everyone will see who gets paid first...the attorneys! Not the poor people who worked their or sold Copia goods on credit. Does anyone think that attorneys work on credit???? "

krusty wrote on Dec 10, 2008 6:06 PM:

" Copia certainly got off to a bad start with it's high admission prices, but how can anyone say that not charging admission is elite and arrogant? When Copia did away with the admission price and during the times they offered free admission in the winter months previously, Copia was a great option for anyone looking for a way to spend a couple hours.

Having visited Copia a couple times, I can say that I never encountered an arrogant employee. Some of the commenters are obviously judging Copia without ever having visited. "

Old Time Napkin wrote on Dec 10, 2008 6:13 PM:

" Copia started out on the wrong foot. They sold memberships and gave the impression that the place was only for the high rollers and the wine snobs. Unfortunately the high rollers did not support it, so Copia decided to appeal to the regular folks of Napa. Well the regular folks didn't go there either because Copia had already established itself as a place for the snobs.
Many of the locals had already had their fill of Robert Mondavi and saw this place as a monument to his ego. As someone whose family has been here for 3 generations I never went there.
Maybe someone will buy it and turn it into a profitable venture. If they do they should make sure that it is geared to the locals or it will fail again. "

jmo wrote on Dec 10, 2008 6:20 PM:

" The CEO and CFO need to be terminated by the Bankruptcy Court NOW!!!!....and replaced by the Court with a competent Trustee. Let the Trustee select an interim CFO. These two do not deserve to continue to be paid while the fired employees suffer and get nothing.
Coal in Fischer and McGuire's stockings. "

lharo13 wrote on Dec 10, 2008 8:20 PM:

" krusty: high admission prices? The met in new york is $20, SFMOMA $12.50, Monterey Bay Aquarium, $24.95.

i am not saying nor implying copia is any bit the museum that these places are, but all museums charge money to get in. How else can they turn a profit and survive?

I am an employee and volunteer of Copia. It is disheartening to see it go. I have been there since opeing day parade and have lots of wonderful experiences there. We had lots of really great programs (concerts and movies in particular) and lots of duds (weird strange artwork). I wish it had been more of a visitor center, wine education and history place rolled into one.

I will miss copia and have enjoyed my time there and met a lot of really nice people. "

krusty wrote on Dec 10, 2008 9:02 PM:

" lharo13, when Copia first opened, they were charging admission of $12.50. That's as much as the SFMOMA. Tourists didn't want to pay $12.50 per person when they didn't even know what Copia was or what it was about.

On top of that, it seems that a lot of locals disliked the place before it even opened, so I wouldn't have expected them to pay the admission price.

The first time I went to Copia, they were offering free admission that month. I enjoyed it, but I wasn't about to come back when they returned to charging $12.50 the next month. Their exhibits were interesting, but do you think anyone would have come to Copia just to view those exhibits? "

oldguy wrote on Dec 10, 2008 9:29 PM:

" Don't knock Geo Altamura He has worked long and hard to get where he is now. He deserves respect. "

John Richards wrote on Dec 10, 2008 10:10 PM:

" I toured Copia during a free day, and frankly, I would not think it is worth even a $5 admission fee. "

krusty wrote on Dec 10, 2008 10:51 PM:

" oldguy, first I want to say that I have met George Altamura before and have run into him a few times. We're not friends by any stretch of the imagination, but I have always found George Altamura to be a very nice and pleasant person when I have come in contact with him. I have no problem with him as a person.

As a business man, I do. I will admit he's obviously doing something right. He didn't become what he is today by making poor business decisions. But he can also help change Napa for the better. With regards to downtown specifically he hasn't done it. At least in the recent past.

He has numerous vacant storefronts on First Street. From what I know about the situation (not much) it's due to the unreasonably high rents he's charging. He's kept some key spaces vacant rather than lease them out for less than he desires.

I'm not even going to bring up Uptown. "

napagirl69 wrote on Dec 11, 2008 12:26 AM:

" You people are really sad. That money was a loan by a local Napa bank that was to go #1 priority to pay the employees that got laid off because of the bankruptcy closing. Over 30 people will now not get paid, some of them owed almost $10,000 dollars in wages, acrued vacation, benefits. It would also helped extend some earned medical benefits for deserving employees. These people now have to petition the bankruptcy court to have the BOND INSURER pay this $$$ because the BOND INSURER PROTESTED employees getting paid. Copia wanted to liquidate(sell) some limited assests to help back this loan so THE EMPLOYEES would GET PAID..HOW can you be happy about this???? My Dad, a professor of computer sciences at Patterson State College in NJ, in a 1984 visit said the only thing classy and sophisticated about Napa was the coffee at the Bel Aire Bowl coffee shop. I'm thinking he might have had a valid point... "

Carl_Lipbalm wrote on Dec 11, 2008 1:04 AM:

" A lively discussion for a fascinating topic: the future of our town. Copia was dead in the water for years, we can all agree there was lack of execution there -- outdated movies, questionable concerts, redundant wine and food offerings, expensive lectures, etc. It is truly sad, however, that it will become a vacant monolith to add to our blight.
For the umpteenth time I walked my dog down first street tonight shaking my head at the empty storefronts, festering over what kind of retail concept would actually WORK in this town, strong enough in its own vision to cater to locals and tourists, and I tend to agree that we are a rather fragmented bunch in Napa -- I fear there is not enough common interest. "

yamamama wrote on Dec 11, 2008 7:18 AM:

" Regarding pricing and NYC museums. The admission fees for the public museums in NYC are actually suggested donations. I have a friend who was a single parent and a student in NYC. She took her kids to the Met one day, laid out $3, and said, "One adult, two children." She was given the tickets. Could you imagine that happening at Copia?! "

mikeb wrote on Dec 11, 2008 8:38 AM:

" When do the tax payers get refunded for the $tens of millions of public funds that have gone into supporting that absurdity? "

proudmama2 wrote on Dec 11, 2008 9:08 AM:

" There is a saying from a movie I watched a few years ago that said "Build it and they will come". Love that saying. But I worry for the town of Napa that after they "build it" who can afford to come and keep it open? IS that what is going to occur with all the hotels being built now? I hope not. For many years, I have been calling Napa "Little San Francisco" and my personal feeling is that we are getting too big for our britches. "

mominapa wrote on Dec 11, 2008 9:15 AM:

" Why does this stuff always happen at Christmas time? Not sorry about Copia but horribly sorry for their employees. You can bet your last dollar that the owners and mucky mucks at Copia will still have a Merry Christmas with all the presents and food, etc. and not give a thought to the employees who have been aced out with no severance, Christmas bonus, etc. God Bless them at this time of year. I hope for the best for them. As far as Copia is concerned, there could be any number of good uses for the property and the gardens across the street, but I bet it sits vacant for years before anyone would use it for humanitarian purposes. A teen center might be a good thing, or a shelter against the winter cold or even a community center where you can go without worrying if your clothes have the right tags inside. "

mominapa wrote on Dec 11, 2008 9:31 AM:

" I have been saying for years that Napa will someday exist for the elite and the people who serve them. Now it is here and in full force. I'm leaving in a year to retire to a place where I can actually afford to buy a house and be happy with people who don't care if I am a member of the elite. That makes me sad because I have always loved Napa and I have good friends here, but I can no longer fool myself into believing that I can afford to stay after I retire and I am tired of the commute. I could never find a job in Napa that would support me. I had to go out of town and now I am going out of town forever. I will visit my friends when I can, but I can never live here again. "

Cadence wrote on Dec 11, 2008 10:28 AM:

" Maybe Joe Fischer can out his brochure-making talents to use and start a Keep Copia Copia campaign.
It will be every bit as honest and forthcoming as his Keep Napa Napa deal was... "

Explorer wrote on Dec 11, 2008 10:31 AM:

" Everything changes and that includes the Napa Valley.

We have become a world class destination. People visit our beautiful valley and they want to move here. This drives up the demand and because of very limited supply prices go up and up. They will continue to go up.

To whine about it is pointless. If you don't like what it is becoming then move. If you can't afford it and want to stay then go back to school or do something to get into a line of work that pays more.

This is America, your failures to succeed are your own. "

sotto voce wrote on Dec 11, 2008 10:40 AM:

" Gone to the Copia website lately? It is business as usual. What if some tourist were planning to visit?

Hey Copia Management, show some responsibility and put up something reflecting the latest events. You make Napa as a Destination City look bad. "

Newview wrote on Dec 11, 2008 11:18 AM:

" I ask myself about this community, are we lacking in a spirit of community? Yes, I believe that others with "elitist" thinking have been over board with their opinions and may have even offended that which binds our fibers together that form what we know as community.

It is small town politics and petty gossip that is our enemy here. It cycles through downtown like the best "pat on the back" that a grizzely can give to you. The power brokers are definitely on the move in downtown, it would be hard to distinguish those that are working hard, from the "prestigious mongers". We have wheels that spin in our community for business, for events, for political direction, yet we never seem to find a place of happiness.

I remember as high schooler, cutting class and going to the back of Butter Cream and magically a box of donuts would appear. The police new you by your first name and your parents too. You could always find a free pizza on friday night. There are many people in our community that do small things for small people. It is the ones that seek selfishly the "prestigious rank" that compromises our culture and who we are. Corruption knocks at the doors of the small people of Napa. It continues in a cycle and causes disdain in the hearts of those who live here because they were born here. Napa has taken on the look of a big giant game of MB's "LIFE" and it appears that many want to be the one who keeps score on who succeeds and who fails.

For the small people, do something big for the community today, unseen, not heard. For the big ones have missed the point. "

firststreetmayor wrote on Dec 11, 2008 11:29 AM:

" If only George Altamura could put this deal together, Napa and the wine industry would profit, but only after the first street bridge is completed. Good Luck George ! "

strate8 wrote on Dec 11, 2008 11:52 AM:

" I've had some good times on the lawn during concerts. They'll be missed,for sure. The people who worked there will be missed as well. I'd say it was an 'over kill' for the city at the time. What to do ? "

Sickothis wrote on Dec 11, 2008 11:54 AM:

" Owners? It's a not-for-profit.

Sheesh. "

AmCan Mom wrote on Dec 11, 2008 12:14 PM:

" Here's an idea...

Why not convert it into the "world premier" level theater that people were talking about getting built? They have nice grounds, an easily accessed location, decent parking, and it would keep developers off of a small part of Napa's remaining open space...at least for a while. Maybe I have missed some news and this is no longer even in the works, but it seems to me that that would be a suitable replacement. "

EverE wrote on Dec 11, 2008 1:27 PM:

" I am sad that Copia is having to close. I very much enjoyed attending some of the events there--and I do not have much money to spend for anything. The outdoor concerts were especially fun. The movies were inexpensive. I truly hope something similar in many ways can take the place of Copia. "

nogrooveinsolano wrote on Dec 11, 2008 2:53 PM:

" Roll the credits and fade to black. Simple as thwack to hack, all of these years around the bend, Copia, you have come to an end. What's the groove and the locals say you have no move. So what has been done, Copia, I'll miss your fun. The locals may say what might be right, I bless Copia has reached "the edge of night." And I hope within this crashes, come back and raise from the ashes. Within this dreadful rest, let Napa bring back the tourists. The end "

jmo wrote on Dec 11, 2008 5:47 PM:

" Hey Ms./Mr. self proclaimed "firststreetmayor", guess you're a newbie or got a ..... nose for dear George. Perhaps you noticed the he can't even get the Downtown theater open...how long has it been??? He may be a successful multi-family and commercial developer but let's keep him far far away from anything with a cultural bent. "

otto wrote on Dec 11, 2008 7:44 PM:

" I am sick to death of all the commenters griping about "elitists". I would be interested to hear your CONSTRUCTIVE comments about what kind of business you would like to see in town catering to "locals". Seems to me like every place that caters to locals here (i.e. affordable restaurants, clothing, etc) sooner or later goes out of business like COPIA. Why? For lack of customers. If you are so keen on having local serving businesses, where are YOU shopping? Fairfield? "

pernodboi wrote on Dec 11, 2008 8:04 PM:

" What a great song MarshaMarsha!

Now we have a home for the rebobs! "

4wattitsworth wrote on Dec 11, 2008 8:37 PM:

" I used to work at Copia. I can tell you first-hand that the employees at Copia worked long and hard hours for not much money. I am well aware that there were some that were paid well, but the average Joe/Joann were not paid much.

Now many of these employees face the holiday season and the new year with no jobs, no health insurance and little to look forward to.

I am also the first to raise my hand and validate that there were problems at the top. Top dogs running things into the ground are the headlines lately! They should be ashamed and yes, they should be held accountable.

Copia was created to showcase internationally the American Center for Wine, Food and the Arts. Those wonderful gardens are a treasure, exhibtions such as "What the World Eats" were true educational experiences for all. The food and wine programs were stellar.

I am one of you, a local Napan who has lived in the valley for over 40 years. I have wonderful children, a husband, pets and a mortgage, just like the rest of you. I just wanted to make a living.

I went to work at Copia, so that I could work within my community and not have to drive the commute any more. That was my dream, but now I am on the road again!!!

Working at Copia, I met the most wonderful people; visitors from all over the world, coworkers and wonderful volunteers who gave freely of their time.

Copia, the Godess of Abundance has fallen, and sadly we have all lost, some more than others. "

TheDudeAbides wrote on Dec 11, 2008 10:12 PM:

" The only crime Copia committed is not coming up with programs that interested enough people. Period, the end. Happens all the time time. Businesses open to lots of fanfare, then fail to attract customers and they close.

And you can use this as an opportunity to whip yourselves into a righteous lather about “the elites,” (whoever they are) or you can use it as your grand chance to say 'boo-hoo Napa isn’t what it was 40 years ago' (ever noticed that the clock only moves forward? It doesn’t stop and it doesn’t run backward) … or whatever broken record your brain is stuck on.

Copia tried and it failed. It’s not that startling. I'll miss the pooping Pope and the giant inflated crab on the roof.

The real question is now, what does that site become? I’d hate to see it turn into the new Merril’s Drug Store or the new Uptown Theater, although I suspect that’s exactly where it’s headed. Once a year it can become the Halloween Store. "

surfdogge69 wrote on Dec 12, 2008 12:59 AM:

" TheDudeAbides. Your's is the most sensible, articulate comment on this whole mess that I've read yet..Fortunately, unless someone puts up the $78m to buy it, then pumps a few more million to renovate I don't think Halloween/Christmas stores or Merril's will work. I appriciate your sarcasm..Someone will also have to do a couple if not several hundred thousand dollars worth of Maint just to reopen, as alot of the buildings' behind the scenes maint has been negleted the last couple of years including kitchens, HVAC, emergency lighting(theater especially), and general deterioration because of lack of funds for maintenance staffing. A convention center and leasing office/classroom space is the most effective $$$ income that can be generated in the short term. With non profit status gone the revenues can be brought up to par with other venues. Copia has had to 'give away" so much in event rentals to placate others for "in kind" offerings that it never recieved back. I don't think one of Copia's events ever made money because of the low event rentals/revenues collected. "

napabob wrote on Dec 12, 2008 2:55 PM:

" In the hearing in Northern California Bankruptcy Court Case #08-12576 on December 5th, COPIA's motion to Incur $2 million of Secured Debt on a Super Priority Basis to be able to pay its creditors and continue to operate was continued until December 19th at 10:00 a.m. As were COPIA's motions to Pay Its Utility Bills, Maintain Merchant Credit Card Bank Accounts, and Pay Prepetition Priority Employee Wage and Benefit Claims. The rulings on these motions will be made on December 19th and the Napa Valley Register's articles indicating that final motion rulings have been made in this case are incorrect. Facts are facts. If you don't believe me, check with the court. "

napagirl69 wrote on Dec 13, 2008 7:54 PM:

" Thanks napabob for your investigation. The register should hire you. Maybe even what's left of Copia if they can afford you. Or are you one of those employees that got the ax? See posting under recent Copia article about G Mcguire resigning..Another Copia employee emailed this to me to post so she wouldn't get in trouble..Looks like someone is not getting the story of the court decision straight..I believe yours is the correct version.. "

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