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Glenwood, MD · Lifestyle
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Heavy Seas Beer Files for Chapter 11 Bankruptcy, Will Keep Brewing
Heavy Seas Beer, one of Maryland’s oldest and largest craft breweries, has filed for Chapter 11 bankruptcy. The company says it is reorganizing, not closing. Clipper City Brewing Company, L.P., which does business as Heavy Seas, filed a voluntary petition Nov. 8 in U.S. Bankruptcy Court in Baltimore under Subchapter V, a faster reorganization track for small businesses. The filing lists estimated assets and liabilities of $1 million to $10 million each, and fewer than 50 creditors. The largest debt is a long-term loan of more than $2.3 million from Wells Fargo. Suppliers including WestRock, MaltEurop and Ball Corp. are among the unsecured creditors.
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