Another popular whiskey brand files for Chapter 11 bankruptcy

The decline in user inquire of for alcohol and distilled spirits for the reason that stay of the Covid-19 pandemic, exacerbated by rising labor and product charges pushed by inflation, has resulted in plenty of distilleries filing for chapter to reorganize their agencies.

Stoli USA, which distills vodka and other spirits, modified into as soon as the most significant distillery to file chapter in the final one year as it on Nov. 27, 2024, filed for Chapter 11 security after monetary inconvenience led to a default on $78 million in secured debt owed to Fifth Third Monetary institution NA.