Once-Popular Booze Brand Files for Bankruptcy After Cyber Attack

The maker of a big-name liquor brand has filed for bankruptcy protection after months of trying to financially recover from a cyber attack.

Vodka Maker Files For Bankruptcy

When it comes to alcohol, there are certain brands you immediately recognize due to their longevity on store shelves and behind bars. Vodka particularly has several names that you instantly know even if it isn’t your drink of choice.

One of those is likely Soli brand vodka.

Now, it appears the long-time vodka-maker’s US operations might be in trouble. CBS News reports Stoli Group’s company in the states has filed for chapter 11 bankruptcy protection.

“Stoli Group (USA) ‘is experiencing financial difficulties,’ according to the filing,'” CBS News says. “Chapter 11 lets a business continue to operate and restructure its finances by working out an agreement with creditors.”

In addition to its namesake vodka, the group also owns the Kentucky Owl bourbon brand.

Cyber Attack May Have Led To Bankruptcy

There may be more to the story behind Stoli vodka’s bankruptcy filing in Texas besides its slumping sales. One outlet says claims there have been outside sources affecting the brand.

Industry website TheSpiritsBusiness.com shared Stoli’s U.S. operations was the victim of a “malicious cyber attack.”

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The website reports the company’s operational systems had to be “rebuilt” following the attack.

In 2022, Stoli went through a rebrand, dropping the Stolichnaya name. The Spirits Business reported at that time the rebrand was “in response to Russia’s invasion of Ukraine.”

“In the wake of Russia’s invasion of Ukraine, Stoli said it would engage with Slovakian sources to ensure Soli vodka is a non-Russian alpha-grade spirit,” the website said.

Stoli is currently distilled in Latvia.