E-Malt.com News article: USA, NC: Triangle Brewing Company to liquidate assets after filing Chapter 7 bankruptcy

Durham-based Triangle Brewing Company will look to liquidate its assets after filing Chapter 7 bankruptcy, Triangle Business Journal reported on June 3.

In its filing, Triangle Brewing lists $415,000 in liabilities, including $70,000 owed to the Alcohol Tobacco Tax and Trade Bureau of the U.S. Treasury. Triangle Brewing values its assets, which include four Pacific Brewery System Fermenters, at $226,000.

The brewery had in mid-April announced it would close and held a last-day party on April 30, though the bankruptcy filing, which was filed in late May, had not been previously reported.

“We began in the earlier days of the craft beer boom that we are all still witness to today,” according to a message on Triangle Brewing’s website. “At a time when names like Highland Brewing, Red Oak, and Carolina Brewing Company were far from household names, when Top of The Hill, Carolina Brewery, and Front Street Brewing were local curiosities, and Sierra Nevada and Samuel Adams were the alpha and omega of craft as far as most people were concerned.”

Chapel Hill law firm Northern Blue represented Triangle Brewing in the bankruptcy filing. A message left with the law firm was not immediately returned.



05 June, 2016