Memphis has lost one of its best-known independent breweries. Crosstown Brewing served its final customers on October 17, and just four days later its operating company filed for Chapter 7 bankruptcy. The shutdown comes amid a broader financial squeeze on craft breweries as operating costs rise and beer-buying habits change.
The debtor is Crosstown Brewing Company, LLC, not the nearby Crosstown Concourse complex or its other businesses. The company filed its voluntary petition October 21 in the U.S. Bankruptcy Court for the Western District of Tennessee, case 26-25793. Chapter 7 typically involves liquidation rather than a Chapter 11-style attempt to reorganize and keep operating.
A final Saturday for a neighborhood favorite
Co-founders Will Goodwin and Clark Ortkiese opened the taproom at 1264 Concourse Avenue in February 2018. The brewery became a popular gathering place near the sprawling Crosstown Concourse development, while beers such as Traffic IPA and Siren Blonde Ale reached customers across Tennessee and neighboring states. The business added a kitchen in 2024, serving pizza, wings and other pub food.
Fans gathered for a final round on October 17, according to Memphis television station Action News 5, which reported from the farewell. The company thanked customers for supporting the taproom and its beer over the years. The crowd raised one last glass of its familiar Traffic brew.
Nearly $2.5 million in listed debts
The bankruptcy petition lists approximately $2.5 million in claims, including about $1.33 million in secured debt and $1.17 million in unsecured debt, the Memphis Business Journal reported. The brewery estimated assets of less than $50,000, according to local coverage of the filing. Those figures reflect the company’s bankruptcy disclosures, not final court determinations of what creditors will receive.
Among the secured claims were roughly $796,500 attributed to Renasant Bank and $327,200 tied to a Small Business Administration disaster loan. The filing also identified debts to suppliers and a lease-related claim of about $100,600 involving Crosstown Master Tenant LLC.
Public docket entries identify a Chapter 7 trustee and set a creditors’ meeting for November 23. The case remains in its early stages; no completed asset sale or transfer of Crosstown’s beer brands has been established.
Rising costs and a difficult decision
Goodwin told Memphis station WREG that inflationary pressure and falling sales made it hard to keep the brewery running. He also said most of the brewery’s roughly 20 employees had already moved to other jobs by the time the closure was announced.
There was a personal loss, too. Ortkiese died in July 2025, and Goodwin told the Memphis Business Journal he faced a choice between taking on more debt and ending the operation. The brewery had continued for more than a year after his co-founder’s death.
Memphis beer drinkers have already seen other local shake-ups, including the bankruptcy and taproom closure of Memphis Made Brewing. For Crosstown, the taproom is closed and the Chapter 7 case is underway. Whether another brewer eventually takes on its recipes or equipment remains unknown.
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