The filing Monday shows up to $10 million in their company value and how much they may owe.
SAN ANTONIO — Alamo Beer Company, one of the largest breweries in San Antonio, is filing for bankruptcy.
The Eastside based company filed for a Chapter 11 petition on Monday in the Western District of Texas.
This follows a trend with other beer businesses having to close or downsize.
Weathered Souls, Busted Sandal, and Second Pitch are three different brewing companies in San Antonio that closed down last year. Two reasons behind this can include high operation costs and slow business.
As for Alamo, the woes began last fall. The beer company told the Express News that their brewery is able to make 40,000 barrels a year but was only making 7,600.
That’s under 20% for what the brewery can make.
Over the summer a listing was made to sell Alamo Beer Company’s two acre parking lot at 202 Lamar Street for $1.5 million.
According to reports the filing shows up to 10 million dollars in their company value and how much they may owe.
Alamo beer company has partnered with San Antonio craft company Viva Beer to stay afloat.
The company also bought shotgun seltzer based in Austin and linked up contracts to package other drinks.
Alamo Beer Company owner Eugene Simor has owned the company for nearly 30 years.
This announcement comes just a few weeks short of the company’s 10 year anniversary as a brewery and beer hall in the Dignowity Hill Neighborhood.
As Alamo Beer Company files for chapter 11 bankruptcy, this means the company can reorganize and pay off their debts to eventually get back to normal.
Simor told the San Antonio Business Journal their plan is to recapitalize, restructure, and return stronger.