One Of NJ’s Oldest Craft Breweries Files For Bankruptcy
New Jersey is known for having a very active, and delicious craft beer scene.
And there's nothing better on a beautiful day than visiting a brewery for an ice-cold brew and maybe some food from a food truck!
That being said, one of the more popular craft breweries from New Jersey has just filed for bankruptcy after a planned merger with another Jersey brewery fell through.
What NJ Brewery Is Filing For Chapter 11 Bankruptcy?
One of the oldest operating craft breweries in Jersey, and one of the first craft brewers that got me into the hobby of craft beer, Flying Fish, has declared Chapter 11 Bankruptcy according to NJ.com.
Revenues have been steadily coming down, and between 2022 and 2023 the company's earnings dropped from 4 Million dollars to 3.1 Million dollars.
They also claimed 1.3 Million dollars in Assets against 9.3 Million dollars in liabilities.
It's sad to see places like this start to struggle especially since they in a sense started the craft beer revolution in New Jersey.
Now, filing Bankruptcy doesn't mean going out of business which is good.
It could mean restructuring debt, or a lot of other things to get themselves turned around.
NJ.com reports that Flying Fish asked a court to allow them to use a "cash collateral" to keep payroll going as well as to allow them to continue to make some of their beers.
Hopefully Flying Fish can come out on top because their beers are one-of-a-kind and delicious.
This is exactly why we should always drink local!
NJ breweries with top-rated beer
Gallery Credit: Dino Flammia