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After “experiencing financial difficulties,” Stoli Group USA, the company behind Stoli vodka and Kentucky Owl, has filed for Chapter 11 bankruptcy. Veuer’s Chloe Hurst has the story!

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00:00After experiencing financial difficulties, Stoli Group USA, the company behind Stoli
00:05Vodka and Kentucky Owl Bourbon, has filed for Chapter 11 bankruptcy. Before consumers panic,
00:11the two beverages will continue to be available on store shelves, while the company navigates
00:16its future. According to CNN, the financial difficulties were a result of slowing demand
00:22for spirits, a malicious cyber attack that disrupted operations, and several years of
00:28fighting Russia in court. The company has listed between $50 million and $100 million in liabilities.
00:35Stoli Group CEO Chris Caldwell explains,
00:38The Stoli Group has been targeted by the Russian Federation since it was formed nearly 25 years
00:44ago. Additionally, the filings state, a decline and softening of demand for alcohol and spirits
00:50products post-COVID, and especially beginning in 2023 and continuing into 2024.

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