Colorado-based spirits producer 52 Eighty Distilling has filed for Chapter 7 bankruptcy as the state loses nearly a third of its craft distilleries.
The company made the insolvency claim on 14 October in the US Bankruptcy Court for the District of Colorado. Chapter 7 is the bankruptcy code that governs the process of liquidation.
According to the filing, the company had assets between US$100,001 and US$1 million and liabilities in the range of US$1m and US$10m.
Based in Littleton, Colorado, 52 Eighty Distilling was established in 2017. The company produced vodka, gin and whiskey, and operated a tasting room.
The…