Southern Skies Investment Holdings (SSIH) no longer has access to the required capital to fund operational costs and shareholders, including me, have been left with no other course of action.
Although our interests are diverse, regretfully our efforts to rescue and rehabilitate online liquor retailer CyberCellar have ultimately proven to be our biggest downfall.
Simultaneously, the capital raise initiated four months ago to fund ongoing consolidation and expansion of our business has been unsuccessful due to the severe downturn of the economic climate. It has been an incredibly tough time to be raising money.
Southern Skies had ambitious goals and we make no apologies for this, as this is what is required to disrupt the status quo and set the industry on a more prosperous path.
Southern Skies takes the opportunity to thank everyone who has supported us, our vision and our attempts to exponentially grow “wine online” in South Africa.
Personally, I would also like to acknowledge the incredible team Southern Skies has built over the past two years. I have never been part of a more driven, committed and united group.
We are confident that some of the more established and/or profitable subsidiaries will live on, albeit under new ownership, and we wish those who remain or become involved in the future the very best.
It remains our firm belief that a key strategy for small and micro wineries must be to embrace direct-to-customer channels for long term sustainable success. Understanding customer needs better and owning customer relationships are key. No-one can tell your stories better than you.
Finally, and on behalf of Southern Skies, we wholeheartedly believe the best years are still ahead for the South African Wine Industry but only if it can find the faith and self-confidence to dream big…and believe bigger.
I am happy to field any questions at andrew@ssih.co.za.
Yours faithfully,
Andrew
Editor's note:
Please see statement from wine.co.za HERE