The spirit distillery industry has been struggling to maintain momentum amid inflation troubles. A downturn in alcohol spending during the pandemic has also added to the issue. Against this backdrop, liquor distillers have been forced to take steps like bankruptcy filing. Devils River Whiskey is the latest name that has filed for Chapter 11 bankruptcy.
Highlights
- Devils River Whiskey filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Western District of Texas.
- Starting in 2017, the whiskey brand signed Dave Bautista for a celebrity deal in 2023.
- Its products, including Barrel Strength Bourbon, Agave Bourbon, and Bourbon Whiskey, were available in about five countries and 36 states.
Devils River Whiskey Distillery Files Chapter 11 Bankruptcy
The liquor distillery industry has been facing financial issues since 2024. According to data from the Distilled Spirits Council of the United States, there was a 1.1% decrease in spirits supplier sales last year, which amounted to $37.2 billion.
The San Antonio-based liquor distiller, which started its operations in 2017, filed for Chapter 11 bankruptcy. Devils River Whiskey Distillery cited restructuring in its business operations as the reason for its bankruptcy filing.
The official filings were submitted by Devils River Whiskey in the bankruptcy court on May 1. According to the documents, the liquor distiller has between $2 million and $10 million in assets and liabilities. It listed everything in its Subchapter V petition in the US Bankruptcy Court for the Western District of Texas.
Unsecured Creditors of the Whiskey Brand
According to The Street, some of the largest creditors of Devils River Whiskey include:
- McDermott, Will & Emory (owing more than $317,000)
- AREA Real Estate (owing more than $132,000)
- Sazerac (owing more than $258,000)
- Romph & Pou Agency (owing more than $83,000)
Beginnings and Success of Devils River Whiskey
The popular whiskey brand from San Antonio began its journey in the liquor distillery industry in 2017. Devils River Whiskey has managed to widen its horizons to about five countries and 36 states since then. The Texas-based whiskey brand has been offering its premium and craft bourbons on cruise lines as well.
Devils River Whiskey’s products include Barrel Strength Bourbon, Agave Bourbon, and Bourbon Whiskey. Other names sold in hundreds of retail outlets and restaurants are Coffee Bourbon, Single Barrel Straight Bourbon, Rye Whiskey, and Cinnamon Bourbon.
Awards and Celebrity Endorsements of the Popular Whiskey Brand
Devils River Whiskey boasts over 63 national and international awards for its products, including agave whiskey, coffee whiskey, and bourbon whiskey. Additionally, the national award-winning whiskey company’s portfolio includes The Fifty Best accolades, International Spirits Competition gold medals, and SIP Awards.
The Texas-based whiskey brand also bagged a celebrity collaboration with Dave Bautista in 2023. Association with The Guardians of the Galaxy and Dune Star further helped increase the popularity of the liquor distiller.
What Lies Ahead for Devils River Whiskey?
The Chapter 11 bankruptcy filing by Devils River Whiskey seems more focused on restructuring, not shutting down operations. With a large product lineup and previous international reach, the whiskey brand could bounce back if it aptly handles its current economic crisis.
