The U.S. Division of the Stoli Group and Kentucky Owl LLC filed a petition for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code, court filings show.

The application filed Nov. 27 by Holland N. O’Neil of Foley & Lardner LLP in the U.S. Bankruptcy Court in the Northern District of Texas. As a voluntary application, a bankruptcy would allow the company to reorganize.

RK Consultants, a bankruptcy consultancy firm, posted in a social media post that Stoli possesses $100-$500 million in assets and $50-$100 million in liabilities. With this, RK Consultants said, “the company enters restructuring with a substantial operational footprint and indicates plans for continued operations with funds expected to be available for unsecured creditors.”

Stoli Group had acquired the Kentucky Owl brand in 2017. The brand, according to the Kentucky Owl website, was founded in 1879 by a pharmacist named Charles Mortimer Dedman, and continued producing whiskey until Prohibition.

Descendant Dixon Dedman re-launched the brand in 2014, operating it for three years until selling to Stoli Group. Dedman later founded the brand 2XO.

Read more: Kentucky Owl Releases Scotch-Inspired Maighstir Edition

Stoli Group USA Files Chapter 11 with Up to $500M in Assets, Affiliate Kentucky Owl Joins Restructuring

BANKRUPTCY FILING ALERT 🚨

Stoli Group (USA), LLC
Chapter 11 – Northern District of Texas
Filed: 11/27/2024
Case No. 24-80146

📊 Assets: $100M-$500M | Liabilities:… pic.twitter.com/TSZG8Hcd3e

— RK | Consultants (@_RKConsultants) November 28, 2024