Popular craft brewery closes as owner files Chapter 7 bankruptcy
Glasses of ice cold beer.
The U.S. craft beer industry has been dealing with growing pains over the past 10 years, as the amount of brewery closings have been rising steadily just as new brewery openings have also been spiking.
The number of craft brewers in the U.S. more than doubled from about 4,803 in 2015 to roughly 9,761 in 2023, according to the Brewers Association. The industry also began seeing sharper increases in brewer closings each year from 2016 through the Covid-19 pandemic of 2020, according to Statista.
Data showed 97 craft breweries closed in 2016, followed by 165 in 2017, 219 in 2018, 294 in 2019 and 346 in 2020. With support from government stimulus programs, brewery closings eased to about 178 in 2021 before rising again to 319 in 2022 and 418 in 2023, according to the Brewers Association.
Some craft breweries have filed Chapter 11 and shut down operations for various reasons including Forgotten Boardwalk Brewing of Cherry Hill, N.J., which filed Chapter 11 in the U.S. Bankruptcy Court for the District of New Jersey and shut down in January after losing its lease; and Tampa, Fla.-based King State, which in February filed Chapter 11 after suffering financial distress caused by city infrastructure work that disrupted the company's business.
Others have filed Chapter 11 seeking to reorganize their businesses and keep operating, like Roth Brewing Co. of Raleigh, N.C., which filed in March, and in May, Harrisburg, Pa., craft brewer SpringGate Vineyard's owner, Schoffstall Farm, filed for Chapter 11 protection in U.S. Bankruptcy Court for the Middle District of Pennsylvania to reorganize.
Finally, once popular Milwaukee craft brewery Company Brewing has shut down its operations and began liquidating its remaining inventory online after its owner George Bregar on May 31 filed for Chapter 7 bankruptcy liquidation.
The brewery, which abruptly closed its brewpub at 735 E. Center St. on May 29 before Bregar filed bankruptcy, listed 10 of its craft beer varieties on its website companybrewing.com and stated in a message that it was selling cans of beer for $1-$2.
"If the webstore is live, we are open," the website said. The company listed its hours as "Monday June 17, 9:30am-12 p.m. (most likely Central time) I'll post future hours as I know them." However, the website's ordering hours listing showed a green dot and "Open now" at 3 p.m. Central time on June 17.
The website also offered merchandise for sale, including T-shirts, glassware, stickers and a "Re-usable Branded Crowler Koozie."
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A review of Company Brewing's 'Live Music & Events Calendar" on its website showed that it had been a busy establishment, with live music performances, Monday Night Trivia, Brewery Tours and Open House on Wednesdays, Dungeons & Dragons Night every first Wednesday and Deaf Trivia every second Wednesday. The calendar showed listings through Mid-May 2025.
Company Brewing on May 18 celebrated its ninth anniversary with a block party featuring a Beer Can Tent, Taproom Beer and other drinks, various food vendors, a DJ booth, petting zoo and bounce house.
The craft brewery subsequently posted a message on its Instagram page on May 29 stating that it was closing "effective immediately," the Milwaukee Sentinel reported.
"Operating our little business on the corner of Center and Fratney has been an incredible rewarding experience and we are thankful for every minute of it," the post read.
Bregar listed Company Brewing's total assets as over $339,000 and debts of over $1.8 million in his Chapter 7 petition.