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

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.