Stoli Group Moves US Entities into Ch.7 Bankruptcy

Dear Client: Stoli Group today announced that it has filed a motion to convert its two US entities, Stoli Group USA and Kentucky Owl, from Chapter 11 bankruptcy into Chapter 7.  You may recall, Stoli's US operations filed for Ch.11 bankruptcy in November 2024, citing a range of factors including a slowdown in the US spirits market, increased cost and inflation, operational disruption caused by a cyberattack, and a dispute with its lender Fifth Third Bank [see WSD 12-02-2024].  UNABLE