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Title: Stoli Vodka Files For Bankruptcy Amid Legal Feud With Russia [Finally something I know about]
Source:
Zerohedge
URL Source: https://www.zerohedge.com/political ... kruptcy-amid-legal-feud-russia
Published: Dec 3, 2024
Author: Tyler Durden
Post Date: 2024-12-03 15:06:49 by Esso
Keywords: None
Views: 555
Comments: 7
The maker of iconic Stolichnaya vodka filed for bankruptcy following a crippling cyber attack in September and an ongoing legal feud with Russia over who owns the brand. As reported by the Post, the Stoli Group USA filed for Chapter 11 in US Bankruptcy Court in Dallas last week after a “malicious cyber-attack” forced the company to operate its global business manually “while the systems are rebuilt,” chief executive Chris Caldwell said in a statement. Stoli Group said its “experiencing financial difficulties” according to the filing, which lists between $50 and $100 million in liabilities. Caldwell also cited ongoing legal battles with Russia, which named the company and its owner – Russian-born and exiled billionaire Yuri Shefler – “extremists groups working against Russia’s interests,” earlier this year. Shefler has been exiled since 2002 because of his opposition to President Vladimir Putin. After the Ukraine invasion in March 2022 Shefler changed the name of the company to Stoli from Stolichnaya. That did not help, however, because at the time propaganda- addled westerners began dumping Russian vodka and spirits in protest, even when the vodka in question was owned by an opponent of Putin. “Today, we have made the decision to rebrand entirely as the name no longer represents our organization,” Shefler said in a statement at the time. “More than anything, I wish for ‘Stoli’ to represent peace in Europe and solidarity with Ukraine.” The brand has long been promoted as a Russian vodka even though it’s made in Latvia. Stoli Group is a subsidiary of Luxembourg-based SPI Group, which owns other spirts and wines, including Kentucky Owl bourbon. Only Stoli Group USA and Kentucky Owl are in bankruptcy, the company said. Shefler has been at odds with Putin for decades, publicly denouncing a number of draconian anti-gay laws in 2013. Russia and Stoli Group have also clashed in courts. The Russian government makes a state-owned version of the brand that is sold in the country with a label that clearly says it’s Russian made, according to reports. Ownership of the brand is disputed between Shefler’s Stoli Group, and Sojuzplodoimport, a firm owned by the Russian state. The bankruptcy comes at a time when overall alcohol sales are slowing this year as Ozempic-injecting consumers pull back on consumption to save money and for health reasons. Consumption of spirits in the U.S. was down 3% and beer down 3.5% for the first seven months of 2024, according to IWSR, a global drinks data and analytics firm. Poster Comment: Jim Lodwick dialed me into Burnett's Vodka, Bardstown, KY. Kimmy loves the stuff, it's every bit as good as Stoli, but a third to half the price. I noticed they changed the Stoli bottle last time I was at the store.
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Begin Trace Mode for Comment # 7.
#3. To: All (#0)
(Edited)
Costco's (Holiday only) Egg Nog Liqueur Is really good. I always take a bottle into my tax-babe's joint around this time of year with a bag of disposal shot glasses. They never forget my name. That stuff melts the panties off of women. (Edit) I was lookin' around in the Dollar General for a gift bag to put it in and found a $1 Xmas stocking instead. Perfect. I get all my cards there too. $1-$2 instead of $8-$10 ea. [Edit from ZH to 4um] I think cards are stupid. I wouldn't spend $10 on a card for even Kimmy. I told her not to do it for me. It's a low-IQ sentimental waste of money.
Maybe I should use that stuff with that little babe from Britain that wants to come over here. She is a surgeon and they are in need over here. A few weeks ago my doctor at the wound clinic was needed for emergency appendectomy so he could not be there about the wounds on my legs. ;)
There are no replies to Comment # 7. End Trace Mode for Comment # 7.
Top • Page Up • Full Thread • Page Down • Bottom/LatestFrom some tight-ass kook at ZH that calls himself 'Esso':
#7. To: Esso (#3)
That stuff melts the panties off of women.
Replies to Comment # 7.