Texas has been losing businesses left and right.
Tons of grocery stores have gone under…
Factories have been shutting down too…
And now even breweries and distilleries are feeling the pinch.
Historically the alcohol industry has been viewed as resilient even in the face of economic downturns…but what they’re facing today is a series of unprecedented challenges.
There’s the consumer spending pullback (especially in Texas), the trade war (which is absolutely destroying alcohol exports), spiking costs, and more.
So it’s no wonder that we’re seeing bankruptcies spiking.
Such is the sad case of Devils River Distillery in San Antonio, Texas, which has filed for Chapter 11 bankruptcy. The company’s future is murky after persistent losses, and 21 employees’ jobs are on the line.
And given that plenty of other distilleries in Texas and nationwide are experiencing similar pressures…
I doubt this is the last bankruptcy we’ll see.
What impacts are you seeing from the trade war? Share a comment and let us know!
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