By Kirk O’Neil TheStreet
The U.S. spirits industry is warning that tariffs on spirits would further curtail industry growth after a year when revenues declined.
The industry maintained its market share but had a decline in revenues last year, the Distilled Spirits Council of the U.S. reported in its annual economic briefing in February. Spirits supplier sales declined 1.1% in 2024, totaling $37.2 billion, but volumes rose by 1.1% to 312.2 million 9-liter cases.
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The spirits industry, however, maintained its market share lead for the third straight year with a 42.2% share of the alcoholic beverage market in 2024.
Related: Struggling whiskey company closes operations, no bankruptcy yet
"While the spirits industry has proven to be resilient during tough times, it is certainly not immune to disruptive economic forces and marketplace challenges, and that was definitely the case in 2024," Chris Swonger, CEO of the Distilled Spirits Council, said.
Despite volumes rising and the spirits industry maintaining its leading market share, several spirits companies have filed for bankruptcy over the last year.
Colorado-based Lee Spirits Co., a distiller of premium gin, vodka and liqueurs, on March 8, 2024, filed for Chapter 11 bankruptcy after shutting down all operations four days earlier, including its Colorado Springs tasting room, Brooklyn's on Boulder Street.
Montana Distillery, which produces a dozen varieties of vodka, gin, and whiskey, on April 29, 2024, filed for Chapter 11 bankruptcy four years after relocating to another city to hopefully cut expenses and survive.
Stoli USA filed for bankruptcy after defaulting on debt.
Huge vodka distiller Stoli USA on Nov. 27, 2024, filed for Chapter 11 bankruptcy after financial distress led to a default on $78 million in secured debt owed to Fifth Third Bank NA.
Spirits distillers continued filing for bankruptcy in 2025, as well.
Craft spirits producer Boston Harbor Distillery, which makes whiskey, rum. gin, liqueurs, and distilled beer, filed for Chapter 11 bankruptcy protection on March 31, 2025, seeking to reorganize its business.
Shortly after that filing, popular high-end whiskey brand Westward Whiskey filed for Chapter 11 bankruptcy on April 6 to reorganize its business, facing significant liquidity challenges.
Craft liquor brand Dashfire files for bankruptcy
Finally, popular craft liquor brand Dashfire LLC, which manufactures a variety of spirits, canned cocktails, coffee liquors, cocktail bitters, and THC coolers, filed for Chapter 11 bankruptcy protection to reorganize its business.
Related: Another popular whiskey brand files for Chapter 11 bankruptcy
Dashfire and two affiliates listed up to $50,000 in assets and $1 million to $10 million in debts in its Subchapter V petition, filed on April 22 in the U.S. Bankruptcy Court for the District of Minnesota.
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The debtor did not list a specific reason for filing for bankruptcy in its petition.
The Minneapolis-based spirits manufacturer's creditors include JGS Management LLC, which is related to its lease; the Internal Revenue Service; the Minnesota Department of Revenue; Live Oak Banking Co.; and the U.S. Small Business Administration.
Dashfire was established in 2013 by founder Lee Egbert focusing on cocktail bitters, then expanding into cocktails, spirits and coffees. Its barrel-aged bitters include 21 different flavors, including its signature Dashfire Vintage Orange Bitters.
The distiller's spirits include Orange Bourbon Liqueur and Elegant Elderflower Liqueur, while its ready-to-drink canned cocktails feature 12 varieties, including Old Fashioned, Manhattan, Martini, Martinez, El Presidente, White Russian, Classic Negroni, Espesso Martini, Bramble, Florida Mule, Salty Dog, and Margarita.
Dashfire's coffee liquors include Rum Golden Latte, Bourbon Cold Brew Coffee, and Rum Cafe Mocha. Its THC coolers include Dark Cherry & Juniper Bramble THC Cooler and Spicy Passion Fruit Margarita THC Cooler.
Related: Popular whiskey brand files for Chapter 11 bankruptcy
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This story was originally published April 22, 2025 at 7:51 PM.
