Popular whiskey brand files Chapter 11 bankruptcy
The popular whiskey brand files for Chapter 11 bankruptcy to reorganize its business.
Spirits distillers had been forced to reorganize their businesses and restructure debt, on occasion submitting for monetary grief, after rising working prices from inflation and a decrease in consumer spending on alcohol after the Covid-19 pandemic led to a decline in earnings.
Complications this 365 days had been preceded by monetary concerns in 2024. Spirits seller gross sales within the U.S. declined 1.1% in 2024 for a total of $37.2 billion, the Distilled Spirits Council of the USA reported in its Annual Economic Briefing in February 2025.
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