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Stoli Group USA, the American distributor of the iconic Stoli vodka brand, has filed for Chapter 11 bankruptcy, citing ongoing financial challenges. Despite the filing, the company reassures consumers that its products will remain available on store shelves throughout the restructuring process.
The bankruptcy filing comes amid significant turbulence in the spirits industry, which has seen a noticeable decline in sales over the past year. Data from the Wine and Spirits Wholesalers of America shows that spirit sales dropped nearly 4% in the 12 months ending August 2024. Younger Americans, who were once a core customer base for Stoli, are. . .
