ST. LOUIS (News First) – Urban Chestnut Brewing Co., a St. Louis craft brewery, has filed for Chapter 11 bankruptcy protection to apparently reorganize with support from a new investor.
Published reports indicate the decision follows an agreement with their new investor, Brian Travers.
Urban Chestnut did not disclose the financial terms of the deal with Travers or the amount of debt it aims to reduce. The company said the restructuring will alleviate financial pressures experienced since the pandemic. Urban Chestnut is facing two lawsuits from creditors alleging unpaid loans totaling more than $400,000.
In the filing Friday, The Desai Law Firm in Town and Country is listed as the law firm for Urban Chestnut. The filing also listed the following as debts the brewery is asking to include:
09/06/2024 — AUTO Voluntary Petition – Attorney (Chapter 11)
09/06/2024 — 20 Largest Unsecured Creditors
09/06/2024 — Verification of Matrix and Matrix
09/06/2024 — Internet Credit Card Receipt
Urban Chestnut is the fourth largest brewery in the St. Louis area, and has even been featured on tv shows like NBC’s Superstore, which was based on characters that resided and worked in St. Louis in a comedy setting. News First will have more on this as it becomes available.
