Popular whiskey brand files Chapter 11 bankruptcy
The popular whiskey brand files for Chapter 11 bankruptcy to reorganize its business.
Spirits distillers have been forced to reorganize their businesses and restructure debt, sometimes filing for bankruptcy, after rising operating costs from inflation and a decrease in consumer spending on alcohol after the Covid-19 pandemic led to a decline in profits.
Problems this year were preceded by financial issues in 2024. Spirits supplier sales in the U.S. declined 1.1% in 2024 for a total of $37.2 billion, the Distilled Spirits Council of the United States reported in its Annual Economic Briefing in February 2025.
