(TDB) - GreenBottle, maker of the world’s first paper wine bottle, has gone into administration just five months after debuting its first line in the US.

The Merseyside-based company officially went into administration on 28 February.

Speaking to the drinks business, the company’s former managing director, Mark Eaves, said: “GreenBottle went into administration because the majority of the shareholder base decided to discontinue investing during the February fund-raise, so the directors had no option.

“It’s interesting timing as we were on the market and had gotten past our main production challenges. A few former GreenBottle shareholders have bought the key assets and are investigating a new plan,” he added.

Last November, the world’s first paper wine bottle went on sale in the US, with California producer Truett-Hurst using GreenBottle’s prototype with the label artwork provided by drinks packaging design agency, Stranger & Stranger.

Filled with a 2012 red blend from Paso Robles, Paperboy went on sale in US supermarket Safeway.

Made from compressed recycled paper and printed with natural inks, the bottle weighs just 65g – a seventh of the weight of an average wine bottle.

Lined with a plastic bag similar to those found in wine boxes, the paper wine bottle’s carbon footprint is less than a third of a 75cl glass bottle.

Accoridng to the North Bay Buisness Journal, with GreenBottle in administration, Truett-Hurst has shifted to an American-based manufacturer of the paper wine bottle at an increased cost.