Figueroa Mountain Brewing files for bankruptcy

Figueroa Mountain Brewing Company, the Buellton-based craft brewer, filed for Chapter 11 bankruptcy reorganization on Oct. 5. The second largest craft brewer in our area announced plans to restructure its debts and bring in a new financial partner. Before the onset of the COVID-19 pandemic, the company’s production was about half bottled beer and half draft beer, the latter being more profitable. After the pandemic began the draft beer business slowed dramatically and the business had trouble fulfilling orders for packaged beer. Consequently Figueroa Mountain saw a double-digit percentage drop in revenue this year though the fourth quarter is expected to be in the pre-pandemic range. A debt reorganization will allow Figueroa Mountain to restructure its company to focus on sales of packaged beer. Figueroa Mountain intends to continue all restaurant and brewery operations and will not discontinue any of its current beers.

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6 Responses to Figueroa Mountain Brewing files for bankruptcy

  1. Richard says:

    Way to go Newsom! Another business you’ve bankrupted.

    • Rex Of SB says:

      So the pandemic was Newsom’s fault? If I were assigning blame, I think I’d go higher up in the political chain, if you know who I mean and I think you do.

      • Jason B says:

        No, Newsom’s policies in response to the pandemic are what Richard is questioning.

        • Richard says:

          JB, that’s exactly what I am referring to. Newsom’s closures, restrictions, and mandates and all of his policies have done NOTHING to control the virus that many blame Trump for. My heart goes out to all the food, libation, and other businesses that have suffered untold financial hardships for nothing other than political ends. No wonder so many are leaving this state for more sane business policies, taxes, and regulations.

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