Private investors to buy majority of Westward Whiskey assets

Core Insights - Westward Whiskey has sold the majority of its assets to private investors after filing for Chapter 11 protection, with the sale approved by the United States Bankruptcy Court for the District of Delaware [1][3] - The buyer group, Aqua Ardens, aims to continue Westward Whiskey as a going concern and grow the brand, acquiring essential assets including intellectual property, production equipment, and inventory [2][3] - The bankruptcy process was deemed necessary to address liquidity shortfalls and market challenges, with the company expecting solid growth for 2025, reporting a 53% increase in sales compared to the previous year [4][6] Company Details - The transaction is expected to close by November 3, and the CEO, Thomas Mooney, will continue to lead the business without any job losses resulting from the sale [2][4] - Aqua Ardens, the investor group, had previously financed Westward during its bankruptcy process and is a new entity formed specifically for this acquisition [3][7] - The new ownership structure is anticipated to provide flexibility to focus on successful business areas, including the Westward Whiskey Club and direct-to-consumer sales [6]