37-year-old liquor and beer brand files Chapter 7 bankruptcy, liquidating

When a company files Chapter 7 bankruptcy, it means the brand will be liquidated. That could result in a new beginning, if a new business or operator buys the brand and revives it. In theory, that can happen, but in many cases, the company's assets will be auctioned off. One business might buy its equipment, while another may purchase its brand name. Its intellectual property may even be split up between multiple buyers. A Chapter 7 bankruptcy is definitive, and it's usually a quick process. "Unlike Ch ...