The U.S. subsidiary of vodka producer Stoli Group and its sister company, whiskey maker Kentucky Owl, have filed for Chapter 11 bankruptcy protection in the Northern District of Texas.
Stoli has dozens of spirits and wine brands that it sells, but liquor sales have been on the decline in recent years. In its first day filing, Stoli lists $100 million in liabilities and $50 million to $100 million in assets. One of those liabilities is Dallas-based management consulting firm CR3 Partners for $168,657.
Stoli has hired Foley partner Holland O’Neil of Dallas as its lead legal advisor.
The case is In re Stoli Group (USA), No. 24-80146. The case has been assigned to U.S. Bankruptcy Judge Scott Everett in the NDTX.