Financial Crisis Hits Trio of Beer and Hard Seltzer Brands

A trio of beer and hard seltzer players are facing mounting financial turmoil. 🍺📉

Press Premium Alcohol Seltzer’s parent company, XYZ Beverage, has entered receivership in Wisconsin with nearly $7 million owed to Constellation Brands’ venture arm and a separate $4.3 million arbitration judgment tied to its contract brewer. Once distributed in 40+ states, Press is now reportedly down to seven markets and has laid off much of its staff.

Meanwhile, Voodoo Brewing is preparing to sell its assets — wiping out nearly $536,000 raised from hundreds of crowdfunding investors — as multiple locations shutter across the country. In Chicago, Great Central Brewing is confronting a new $4.7 million foreclosure lawsuit after surviving a prior $12 million action in 2023.

What’s behind the wave of distress — and what happens next? Link to the full story in the first comment below 👇

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