The owner of the Stoli vodka brand has declared its US division, as well as the Kentucky Owl American whiskey business, as bankrupt, ending a year-long battle to save the pair.
In November 2024, Luxembourg-headquartered Stoli Group, owned by Russian businessman Yuri Shefler, filed for Chapter 11 bankruptcy for Stoli Group USA and Kentucky Owl. The voluntary submission, which CEO Chris Caldwell told Global Drinks Intel at the time would “enable us to conduct the financial restructuring required”, has been followed this week by the move to Chapter 7, meaning the operations will be the subject of a liquidation process.
The company, which provided assurances that the rest of its operations both outside of and inside the US “continue…