Stoli Group (USA) LLC, the US division of Stoli brand vodka and Kentucky Owl bourbon, has initiated Chapter 11 bankruptcy protection in Texas.
The company's bankruptcy petition reveals that it has assets exceeding $100 million and estimated liabilities between $50 million and $100 million.
This action is a response to the company's need to restructure its financial obligations due to challenging market conditions.
The filing underscores the ongoing difficulties faced by beverage companies in the current economic climate.