A Popular Craft Beer Company Now Files an Unexpected Bankruptcy

A popular craft beer company now files an unexpected bankruptcy after nearly six years of operations, sources report.

Beer sales may have ended 2023 on a high note, but things are still not looking good for smaller brewers at the start of 2024, reports TheStreet.

Zydeco Brew Werks has now filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Middle District of Florida.

The craft beer company plans to close its main brewery and restaurant location on 7th Avenue in Tampa, Florida for the last time on Jan. 21.

The craft brewery and restaurant on Jan. 12 said in a Facebook post that it will close its Ybor City location in Tampa after nearly six years of operations.

Zydeco Brew Werks, however, said that its second location at Tampa’s Museum of Science and Industry will remain open as the company’s founders Paul Rutherford and J. Paul Pepin search for a new home for its brewery, Creative Loafing Tampa Bay reported.

In addition to craft beers, Zydeco Brew Werks’ restaurant menu features New Orleans and Cajun-style food, such as a Creole Flatbread, French Quarter Fries, Gumbo, Shrimp and Grits, Blackened Shrimp, Shrimp Mac & Cheese, Cajun Brussel Sprouts, and, of course, Beignets, just to name a few items offered.

The restaurant’s menu at the Museum of Science and Industry is more limited but features items such as Bayou Hot Chicken Sammy, Crescent City Cuban, Shrimp Po’Boy, and Tater Tot Nachos.

Flying Fish Brewing Co., a Pennsylvania brewery that operates in South Jersey, also filed for Chapter 11 bankruptcy protection in late December in the U.S. Bankruptcy Court for the District of New Jersey after a sale to Cape May Brewing Co. collapsed. 

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Market News Today - A Popular Craft Beer Company Now Files an Unexpected Bankruptcy.
Market News Today – A Popular Craft Beer Company Now Files an Unexpected Bankruptcy.

Three massive restaurant chains now begin closing locations as executives state plunging sales are the primary blame.

TGI Friday’s, Chili’s, and Hooters, are closing a total of 38 locations nationwide, reports The-Sun.

Bosses have cited a slump in sales as a reason for the closures, but some customers blame other issues.

TGI Fridays shocked the restaurant business earlier this month when it announced the closure of 36 locations nationwide.

The decision affects restaurants in 12 different states, including seven locations in New Jersey, six in Massachusetts, and five in New York.

President and COO of TGI Fridays Ray Risley described the closures as “opportunities to optimize and streamline our operations” in a press release.

Many of the restaurants have already closed, with signs on the doors informing customers that their old eatery is now gone.

Meanwhile, competitor Chili’s has closed down one restaurant this month.

Diners enjoyed their last meals at the location in the Arboretum shopping center in Charlotte, North Carolina on January 9.

The reason for the closure has been attributed to an expiring lease, a spokesperson for the restaurant chain told the Charlotte Observer.

But locals on a Reddit community for Charlotte have said the location was repeatedly understaffed.

“Not surprising,” wrote one former customer.

“Randomly stopped at this location a few months ago… they were turning people away at the door because the only wait staff they had was the bartender.”

The “breastaurant” industry is not immune to closures either, as Hooters in Lafayette, Louisiana, suddenly closed down this week.

The shutdown was completely out of the blue, with employees showing up to work on Tuesday, January 9 only to find out they no longer had a job.

One employee told local ABC affiliate KATC: “Managers didn’t mention anything.

“As far as I know, our managers didn’t know about the situation. It was a complete shock.”

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Also Read: A US Company Now Declares An Unexpected Bankruptcy

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Market News Today - A Popular Craft Beer Company Now Files an Unexpected Bankruptcy.
Market News Today – A Popular Craft Beer Company Now Files an Unexpected Bankruptcy.

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