Archive · 26 Oct 2025
Uncle Nearest Whiskey Faces Possible Second Bankruptcy
Uncle Nearest, a whiskey company with a long history, might have to declare bankruptcy again.
They previously filed in March due to problems like lower sales and higher expenses.
A company that lent them money sued, claiming they didn't pay back over $108 million.
A court appointed someone to manage their assets.
The company may sell some of its property to try and stay afloat.
Despite the problems, the core brand is considered viable.
Uncle Nearest whiskey brand may file for Chapter 11 bankruptcy again.
This follows a previous filing in March and receivership in August.
The company faces financial strain due to declining demand, increased costs, and loan default.
Farm Credit Mid-America sued the company over a $108 million+ loan default.
A receiver, Phillip G. Young Jr., was appointed to manage the company's assets.
- Who
- Uncle Nearest whiskey brand
- What
- Facing potential second bankruptcy filing and asset sales.
- When
- Since March 2025, with potential second filing
- Where
- N/A
- Why
- Due to declining demand, high operational costs, and loan default.
- Company
- Uncle Nearest
- Industry
- Whiskey
- Legal Action
- Farm Credit Mid-America lawsuit
- Loan Default
- $108 million+
- Current Status
- Receivership
- Receiver
- Phillip G. Young Jr.