Stoli Group USA Faces Bankruptcy Amid Russian Disputes

Stoli Group USA and its affiliate Kentucky Owl have filed for Chapter 11 bankruptcy in Texas, citing financial difficulties exacerbated by a crippling cyberattack and ongoing legal disputes with the Russian government. These US-based subsidiaries plan to continue operations while seeking debt restructuring. Stoli Group, part of Luxembourg-based SPI Group, has faced legal battles over Russian claims to the brand, with owner Yuri Shefler labeled an 'extremist' by Russia. The cyberattack forced manual bookkeeping, and the company is experiencing a downturn in demand for spirits post-pandemic. Despite these challenges, Stoli continues to support Ukraine and uphold its global commitments to sustainability and diversity. The Russian government has not responded to these developments, which occur amid broader geopolitical tensions.