Stoli Group USA files for Chapter 11 bankruptcy with up to $100 million in debt

thesun.co.uk

Stoli Group USA, known for its Stolichnaya vodka, filed for Chapter 11 bankruptcy on November 27, citing debts between $50 million and $100 million. The company faces challenges from decreased consumer demand, rising costs, and a recent cyber attack. The bankruptcy filing aims to restructure the company and preserve jobs. Stoli Group USA plans to submit a joint reorganization plan with its Kentucky Owl whiskey unit in the coming months. Despite the bankruptcy, customers can still purchase Stoli and Kentucky Owl products. The company has been affected by ongoing legal issues related to its brand and the impact of the pandemic on alcohol sales.


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Timeline:

    [3.1]
    Stoli Group files for bankruptcy in US following ransomware attack and Russian seizures (bleepingcomputer.com)
    103d 6h
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    [2.2]
    Cleveland dinner events canceled following Stoli Group USA bankruptcy filing (cleveland.com)
    103d 7h
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    [2.4]
    Stoli Group USA files for Chapter 11 bankruptcy following cyber attack and legal disputes with Russia (zerohedge.com)
    103d 8h
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    [2.7]
    Stoli Group USA files for Chapter 11 bankruptcy with up to $100 million in debt (thesun.co.uk)
    103d 9h
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    [3.6]
    Stoli Group USA files for Chapter 11 bankruptcy while planning to continue operations (wcpo.com)
    104d 6h
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    [3.6]
    Stoli Group USA files for Chapter 11 bankruptcy while planning to continue operations (tmj4.com)
    104d 6h
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    [2.6]
    Stoli Vodka files for Chapter 11 bankruptcy after cyberattack and legal battle with Russia (nypost.com)
    104d 10h
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    [3.6]
    Stoli vodka owner files for Chapter 11 bankruptcy in the U.S (edition.cnn.com)
    104d 15h
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