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New York City has spawned many iconic retailers: Tiffany & Company in jewelry; Bergdorf Goodman and Saks Fifth Avenue in fashion; F.A.O. Schwarz in toys.

In fine wine, that retailer was Sherry-Lehmann Wine & Spirits.

The Zagat guide once said of Sherry-Lehmann, “If Bacchus owned a wine store, this would be it.” One of the world’s most prolific sellers of high-end wines, Sherry-Lehmann introduced Americans to Dom Pérignon Champagne in 1947 and the famed Bordeaux Petrus in the 1960s. Its clientele ranged from celebrities (like Greta Garbo and Mick Jagger) to billionaires (like the Bass brothers of Texas) to run-of-the-mill wine lovers (like me). Thanks to online sales, it served customers all over the country.

Yet nearly nine decades after its founding, Sherry-Lehmann faces a crisis. Earlier this year, Sherry-Lehmann’s liquor license expired and the store closed. It owes the state $2.8 million in unpaid sales taxes. Dozens of wholesalers have told the

Keep reading this article on The New York Times Business.

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