Beverage company Stoli Group (USA) LLC (Stoli USA) filed for Chapter 11 in freefall last week as the debtors faced declining demand for spirits, inflationary pressures, a data breach and a ransomware attack, as well as a dispute with lender Fifth Third Bank, National Association.

Stoli USA, an affiliate and subsidiary of the international Stoli Group, is the Stoli Group’s sole and exclusive purchaser, importer and distributor of finished Stoli products in the US market, according to a first day declaration of Chris Caldwell, the debtors’ president and global CEO.

The company requested authorization to use cash collateral, and it has not filed a motion seeking approval of any debtor-in-possession (DIP) financing. A first day hearing is scheduled for tomorrow (3 December) at 9:30am CT before Judge Scott Everett of the US Bankruptcy Court for the Northern District of Texas.