ST. LOUIS – Urban Chestnut Brewing Company, a prominent St. Louis craft brewery, is filing for Chapter 11 bankruptcy with plans for financial restructuring.
Urban Chestnut has reached an agreement to reorganize business operations with backing from a strategic financial advisor, according FOX 2’s news partners at the St. Louis Post-Dispatch.
BK Database, a legal services platform, reports of a U.S. bankruptcy court filing on Friday through the Eastern District of Missouri. FOX 2 has reached out to Urban Chestnut for more information.
It appears Urban Chestnut has been pressured financially since the COVID-19 pandemic. The company faces two lawsuits alleging that the company owes hundreds of thousands of dollars in unpaid loans.
Urban Chestnut’s website says it still had plans to hold Oktoberfest events from Oct. 11-13. The company has two brewery and bierhall locations in St. Louis, along with a bar at Lambert Airport. It’s unclear how bankruptcy proceedings may affect Urban Chestnut’s events and locations at this time.
