Stoli Vodka's U.S. Division Files for Bankruptcy Amid Cyberattack and Legal Issues
Stoli Group USA, a major vodka brand, has filed for Chapter 11 bankruptcy due to financial distress, including over $78 million in secured debt defaults, a data breach, and a ransomware attack. The company, which also faces legal battles with the Russian government and declining alcohol demand post-Covid-19, listed significant unsecured debts to various creditors, including sports teams and marketing firms. The bankruptcy filing aims to reorganize the company's finances amid rising operating costs and global economic challenges.
