Award-winning whiskey brand files for Chapter 11 bankruptcy

The decline in particular person query for alcohol and distilled spirits for the reason that cease of the Covid-19 pandemic, exacerbated by rising labor and product costs pushed by inflation, has resulted in a couple of distilleries filing for financial extinguish to reorganize their businesses.

Stoli USA, which distills vodka and other spirits, was essentially the significant distillery to file financial extinguish in the final note 12 months as it on Nov. 27, 2024, filed for Chapter 11 safety after monetary anguish ended in a default on $78 million in secured debt owed to Fifth Third Financial institution NA.