Kentucky Faces Massive Job Loss as 3 Major Whiskey Distilleries Go Bankrupt (good time for Canada to tariff them)

[eppur_se_muova]

11. MUCH better link: https://www.thestreet.com/retail/another-bourbon-and-whiskey-maker-files-chapter-11-bankruptcy

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“We filed to maximize the value of the assets for all stakeholders,” Viola said in a statement July 18. “Luca Mariano Distillery and LMD Holdings have a successful business model, have weathered the prior economic challenges in our industry, and are poised to emerge successfully, ideally with the support of its employees, customers, community and creditors."

The Chapter 11 filing was made in order to delay a judge's order to push the company into a receivership, where it likely would have been sold.

In June, the Kentucky Herald-Leader reported that the distillery was facing multiple liens over unpaid debts of over $3.8 million. It is not the only emerging Kentucky distillery facing debt issues, according to the paper.

A lien for $1.7 million was filed in May against Whiskey House of Kentucky in Elizabethtown.
And in April, Garrard County Distillery, in Lancaster, was placed in receivership amid $2.2 million in liens. In all, Truist Bank claims Garrard County owes it more than $26 million.
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LOTS more, mostly about startup craft bourbon maker Luca Mariano: https://www.thestreet.com/retail/another-bourbon-and-whiskey-maker-files-chapter-11-bankruptcy