A popular brewery company now files an unexpected bankruptcy shutting down its operations and liquidating its remaining inventory online.
Milwaukee craft brewery Company Brewing has shut down its operations and began liquidating its remaining inventory online after its owner George Bregar on May 31 filed for Chapter 7 bankruptcy liquidation.
The brewery abruptly closed its brewpub at 735 E. Center St. on May 29 before Bregar filed bankruptcy, the Milwaukee Journal Sentinel reported.
Company listed 10 of its craft beer varieties on its website companybrewing.com and stated in a message that it was selling cans of beer for $1-$2.
“If the webstore is live, we are open,” the website said.
The company listed its hours as “Monday June 17, 9:30am-12 p.m. (most likely Central time) I’ll post future hours as I know them.”
However, the website’s ordering hours listing showed a green dot and “Open now” at 3 p.m. Central time on June 17, reports TheStreet.
The website also offered merchandise for sale, including T-shirts, glassware, stickers and a “Re-usable Branded Crowler Koozie.”
Company Brewing on May 18 celebrated its ninth anniversary with a block party featuring a Beer Can Tent, Taproom Beer and other drinks, various food vendors, a DJ booth, petting zoo and bounce house.
The craft brewery subsequently posted a message on its Instagram page on May 29 stating that it was closing “effective immediately,” the Milwaukee Journal Sentinel reported.
“Operating our little business on the corner of Center and Fratney has been an incredible rewarding experience and we are thankful for every minute of it,” the post read.
Bregar listed Company Brewing’s total assets as over $339,000 and debts of over $1.8 million in his Chapter 7 petition.
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Other Economy News Today
An unexpected restaurant now abruptly closes 7 locations in one state after revealing plans to shutter a total of 36.
TGI Fridays is closing a total of seven restaurants in one state as part of the company’s ongoing growth strategy.
This comes after the chain abruptly closed 36 locations across 12 states in at the beginning of the year, per The-Sun.
The restaurant chain will pull the plug on seven locations across the state of New Jersey in the coming weeks.
Today, Fridays will welcome in famished diners at its location in Brick for the final time.
“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” said Weldon Spangler, CEO of TGI Fridays earlier this week.
“We are at the helm of a pivotal moment that will allow us to explore boundless advancement, expansion, and innovation to keep delivering ‘That Fridays Feeling’ that our fans know and love.”
Before the closures, TGI Fridays had about 270 US locations, according to the company’s website.
“As part of the store closures, TGI Fridays is offering more than 1,000 transfer opportunities, which represents over 80% of total impacted employees,” the company previously said in a statement.
“Our top priority has always been delivering a superior experience for each and every TGI Fridays guest, and we’ve identified opportunities to optimize and streamline our operations to ensure we are best positioned to meet – and exceed – on that brand promise,” said Ray Risley, US president and chief operating officer, in the release.
Eight other locations were sold to former CEO Ray Blanchette, a longtime stakeholder who will acquire the previously corporate-owned restaurants.
The sale comes as major changes have been made to the brand’s leadership, including the news of Weldon Spangler being made CEO.
“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” said Spangler in a statement.
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