Stoli vodka owner files for Chapter 11 bankruptcy in the U.S

edition.cnn.com

Stoli Group USA, the owner of Stoli vodka, has filed for Chapter 11 bankruptcy in the U.S. due to financial difficulties. The company lists liabilities between $50 million and $100 million, impacted by a cyberattack and declining demand for spirits. Despite the bankruptcy, Stoli vodka and Kentucky Owl bourbon will remain available in stores. The filing only affects the U.S. operations, as the company has faced challenges since changing its name from Stolichnaya after Russia's invasion of Ukraine. Stoli Group's founder, Yuri Shefler, has been in a long legal battle with the Russian government, which has added to the company's financial strain. The company has also reported a significant drop in alcohol demand since the pandemic.


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Timeline:

    [3.1]
    Stoli Group files for bankruptcy in US following ransomware attack and Russian seizures (bleepingcomputer.com)
    103d 5h
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    [2.2]
    Cleveland dinner events canceled following Stoli Group USA bankruptcy filing (cleveland.com)
    103d 6h
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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 7h
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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 8h
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    [3.6]
    Stoli Group USA files for Chapter 11 bankruptcy while planning to continue operations (wcpo.com)
    104d 5h
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    [3.6]
    Stoli Group USA files for Chapter 11 bankruptcy while planning to continue operations (tmj4.com)
    104d 5h
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    [2.6]
    Stoli Vodka files for Chapter 11 bankruptcy after cyberattack and legal battle with Russia (nypost.com)
    104d 9h
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    [3.6]
    Stoli vodka owner files for Chapter 11 bankruptcy in the U.S (edition.cnn.com)
    104d 14h
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