A Popular Alcohol Company Now Files An Unexpected Bankruptcy

A popular alcohol company now files an unexpected bankruptcy four years after relocating to another city in hopes to cut expenses.

The trend of spirits companies filing bankruptcy continued as Montana Distillery, which produces a dozen varieties of vodka, gin and whiskey, on April 29 filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Montana, reports TheStreet.

Montana Distillery listed up to $50,000 in assets and $500,000 to $1 million in liabilities in its petition.

Its largest unsecured creditors included the U.S. Small Business Administration, owed $523,421, and the Internal Revenue Service, owed $161,342.

The debtor faced rising costs and property taxes and decreased revenues caused by the Covid-19 pandemic when it pulled up stakes at its Missoula, Mont., distillery business, relocated to Stevensville in August 2020 and opened its tasting room on Christmas Eve 2020, KYSS FM Radio reported.

The distillery made it almost four years before negative economic factors apparently pushed the company to file bankruptcy, reports the outlet.

Montana Distillery makes a total of 10 different flavors of vodka, including its smooth Woody Creek Premium Vodka, Bacon Vodka, Cherry Vanilla Vodka, Cucumber Flavored Vodka, Ginger Vodka, Huckleberry Vodka, Pepper Vodka, Raspberry Vodka, Vanilla Vodka and Coffee Vodka.

It also features Fallen Dove Gin and Careless Creek Red Sheep whiskey in its tasting room.

The distillery’s website includes a page for Events, which shows no events currently, and an Online Store page, which says “Coming Soon.”

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Also Read: A Massive Grocery Chain With 400 Stores Is Now Closing

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Market News Today - A Popular Alcohol Company Now Files An Unexpected Bankruptcy.
Market News Today – A Popular Alcohol Company Now Files An Unexpected Bankruptcy.

A popular Italian restaurant now announces an unexpected closure after nine years in business, according to an email sent to customers.

Italian Eatery, located in south Minneapolis, Minnesota, told its long-time customers that it planned to shut its doors.

The beloved restaurant, also known as ie, also plans to close its sister restaurant un dito, known for its Sicilian seaside street food, per The US Sun.

They have not announced a closing date but are expected to close between late May and mid-June, according to Bring Me The News.

“As we prepare to close our doors at ie and un dito, we’d like to extend a heartfelt invitation for you to join us for our final months of service,” an email to customers from Carrara $ Co. read.

“Gather with us at the table and let us reminisce over the incredible memories weโ€™ve created together and cherish the moments shared over the past nine years.”

Italian Eatery has been a popular spot since its opening in 2016 and is known for its full-service drinks and dining near Lake Nokomis.

Un dito is a 400-square-foot space that specializes in sips and snacks or afternoon gatherings like you would see in Italy, according to its website.

The restaurant’s “Last Supper” reservations will be released every week and shared in weekly newsletters, according to its website.

“As always, we will continue to reserve walk-in tables at both ie + un dito for our beloved neighborhood,” the announcement read, according to the outlet.

Carrara & Co. also owns due, a focacceria and Italian market in St. Paul, Minnesota that the company calls “Italian Eateryโ€™s spawn, aka quirky little brother,” according to its website.

Despite the Minneapolis closures, due will remain open.

“I’m pleased to inform you that all other Carrara & Co operations remain unaffected, including Due Focacceria, and we are even expanding our services,” according to a statement, reported by NBC affiliate KARE.

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Also Read:ย A Massive Grocery Brand Now Files For Chapter 11 Bankruptcy

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Market News Today - A Popular Alcohol Company Now Files An Unexpected Bankruptcy.
Market News Today – A Popular Alcohol Company Now Files An Unexpected Bankruptcy.

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