Award-winning whiskey brand files for Chapter 11 bankruptcy
Gold medal-winning whiskey brand files for bankruptcy protection.
The decline in consumer demand for alcohol and distilled spirits since the end of the Covid-19 pandemic, exacerbated by rising labor and product costs driven by inflation, has resulted in several distilleries filing for bankruptcy to reorganize their businesses.
Stoli USA, which distills vodka and other spirits, was the most significant distillery to file bankruptcy in the last year as it on Nov. 27, 2024, filed for Chapter 11 protection after financial distress led to a default on $78 million in secured debt owed to Fifth Third Bank NA.
