Bankruptcy filings show Rogue Ales racked up debts before sudden closure
Key Points:
- Rogue Ales & Spirits and its two subsidiaries filed for Chapter 7 bankruptcy, listing $5.6 million in assets against $19.6 million in liabilities, signaling a liquidation of assets.
- Major debts include nearly $600,000 owed in rent to the Port of Newport, over $500,000 in taxes to Lincoln County, and $66,000 in federal alcohol taxes, along with amounts owed to numerous small business vendors.
- The company abruptly closed all operations about a week prior to the bankruptcy filing, including its last four pubs in Astoria, West Salem, and Southeast Portland.
- Rogue’s sales declined by 18% last year amid a challenging craft beer market marked by increased competition and changing consumer preferences,
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Bankruptcy filings show Rogue Ales racked up debts before sudden closure
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