Metropolitan Brewing Faces Bankruptcy, Potential Closure
Metropolitan Brewing, one of Chicago's oldest craft breweries, has filed for Chapter 11 bankruptcy protection due to tepid retail sales, unsustainable debt, and a rent dispute. The brewery owes over $1 million in back rent and fees to its landlord and more than $1 million to a bank for an equipment loan. Metropolitan's financial struggles began after moving to a larger location in 2017. The brewery hopes to restructure its debts and renegotiate its lease to continue operations, but if unable to do so, a sale or liquidation may be the only options. Craft beer sales have been challenging in the industry, and many closures have been attributed to lease difficulties.