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

thesun.co.uk — December 3, 2024 at 08:01 PM UTC

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.

With a significance score of 2.7, this news ranks in the top 27% of today's 16954 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 9000 minimalists.

Timeline:

[3.1]

Stoli Group files for bankruptcy in US following ransomware attack and Russian seizures (bleepingcomputer.com)

101d 10h

Link Source

[2.2]

Cleveland dinner events canceled following Stoli Group USA bankruptcy filing (cleveland.com)

101d 11h

Link Source

[2.4]

Stoli Group USA files for Chapter 11 bankruptcy following cyber attack and legal disputes with Russia (zerohedge.com)

101d 12h

Link Source

[2.7]

Stoli Group USA files for Chapter 11 bankruptcy with up to $100 million in debt (thesun.co.uk)

101d 13h

Link Source

[3.6]

Stoli Group USA files for Chapter 11 bankruptcy while planning to continue operations (wcpo.com)

102d 10h

Link Source

[3.6]

Stoli Group USA files for Chapter 11 bankruptcy while planning to continue operations (tmj4.com)

102d 10h

Link Source

[2.6]

Stoli Vodka files for Chapter 11 bankruptcy after cyberattack and legal battle with Russia (nypost.com)

102d 14h

Link Source

[3.6]

Stoli vodka owner files for Chapter 11 bankruptcy in the U.S (edition.cnn.com)

102d 19h

Link Source