Copia wine museum files for bankruptcy

December 2, 2008 10:19:05 PM PST
A Napa food and wine museum co-founded by the late vintner Robert Mondavi and TV chef Julia Child is filing for bankruptcy.

Copia officials say yesterday's filing in U.S. Bankruptcy Court in Santa Rosa gives the nonprofit a chance to restructure and position it to "compete more effectively."

Copia -- also known as The American Center for Wine, Food and the Arts -- says it hopes the court will allow it to sell all its real estate and lease facilities back for classes and programs. The nonprofit says it has negotiated $2 million in credit to help pay employees and vendors.

Copia, which has lost millions, also says it plans to reopen and operate while it restructures.

The museum blamed the credit crisis for its decision to close last month.