A Texas judge ordered Chapter 11 trustees for Kentucky Owl and Stoli bankruptcies. Lender Fifth Third Bank successfully argued for an orderly sale of 35,000 bourbon barrels. This approach aims to maximize recovery for creditors over immediate liquidation. The wider bourbon industry faces a downturn, impacting several companies. Major brands like Brown-Forman and Diageo have announced layoffs due to declining sales.
https://www.kentucky.com/lexgoeat/bourbon/article314595107.html