As a business, wine growing is like manufacturing in that it requires long term investment and operating outlays before profits arrive when the wine is sold years later. There is always a risk of having borrowing, operating costs, and interest expenses eating up equity before the wine gets sold.
This company wasn’t a traditional wine company. It was built on collecting bankrupt and loan defaulting companies the Depression of 2008. The owners unloaded in on stockholders in 2021 when they took it public and surprise - it couldn’t be run at the investment price they sold it for.