In a recent press release, Celis Brewing confirmed the successful filing of Chapter 11 Bankruptcy, allowing the Austin-based brewery to reorganize it its business model and books.
Celis Brewery Announces New Growth Plan Following Chapter 11 Restructuring
Austin, TX--Bringing an end to recent rumors, Celis Brewery announced that it has filed for relief under Chapter 11 of the United States Title 11 Bankruptcy code for the purpose of reorganizing its finances.
Christine Celis, founder explains, “The brewery has struggled to make financial ends meet under larger than expected debt service since day one. Even though our beer has been one of the fastest growing craft beers in Texas, the financial model we started with put us in a cash crunch that simply did not give us any room to maneuver in a highly competitive market. We intend to fix all of that through the Chapter 11 process. It will allow us to continue to make my Dad’s legendary beers and grow within more realistic parameters.”
Ms. Celis and her daughter Daytona Camps along with other key team members will continue as employees of the brewery, ensuring quality control and adherence to Celis standards. Christine will continue to focus on sales and marketing as the face of the brand and Daytona will take on an even more significant role in the brewery developing new beers and creating exciting new products as the family’s third generation brewer.
Christine says, “Nothing about our beers, our ingredients, our recipes, our methods or our distributor network is changing. We will continue to make our core brands, Celis White, Grand Cru and 3rd generation beers like our Juicy IPA. All of our distributors are with us and have shown incredible support for our brand. This reorganization is strictly a financial adjustment to allow us to grow in a more stable and profitable manner.”
Representatives for the largest distributor in the 7 county Austin area issued this statement: “Brown Distributing extends our congratulations to our partner, Celis Brewery. We have remained vigilant amid all the conjecture and had full confidence that Celis would continue to flourish in Austin. We are extremely proud to be a part of bringing this iconic local brand back to Austin and have been overwhelmed by the consumer and retail support. Cheers to endless years!”
“I also want to thank our incredible team of employees and vendors who have been patient and stayed with us through this difficult process. We truly appreciate your support and understanding.”
For more information regarding this announcement please contact Christine Celis at firstname.lastname@example.org referencing Chapter 11 in subject line. Additional information will also be available soon on the company’s website at celisbeers.com.
10001 Metric Blvd. | Austin, TX 78758 | www.celisbeers.com