"But if you're a bourbon enthusiast who has savored one of their bottles lately, some concerning news has developed regarding the distillery's future, and leading to questions as to whether Kentucky Owl has a second act in store.Earlier this week, parent company Stoli announced that, more than a year after Kentucky Owl (and corporate sibling Stoli Group USA) had entered Chapter 11 bankruptcy, it was filing a motion to move both into Chapter 7."
"Stoli addressed the near-term future of Kentucky Owl (and Stoli Group USA) products in the announcement. "We believe there is sufficient inventory of Stoli brands in the U.S. market to ensure consumers will be able to continue purchasing these products for the foreseeable future," they said. As Inc.'s Leila Sheridan pointed out in an article on the distillery, this may not be the last legal manuever in this case."
Kentucky Owl received high marks recently for its whiskey, including collaborations with distilleries in Japan and Scotland. Parent company Stoli filed to move Kentucky Owl and Stoli Group USA from Chapter 11 to Chapter 7, shifting from possible reorganization toward liquidation. Stoli stated that current U.S. inventory should let consumers continue purchasing products for the foreseeable future. Primary creditor Fifth Third Bank planned to seek an appointment to oversee the Chapter 11 reorganization. Industry troubles and Stoli's disputes with the Russian government add complexity and increase uncertainty about Kentucky Owl's future.
Read at InsideHook
Unable to calculate read time
Collection
[
|
...
]