Another popular craft beer brand files for Chapter 11 bankruptcy

U.S. beer sales concluded 2023 on a high note, up 1.4% from 2022. However, success among domestic brewers did not drive the figure higher.

Sales of imported beer increased by $1 billion, or 9.1%, year on year, according to NIQ, a data provider that measures sales in supermarkets, drugstores, mass-merchandise shops, convenience stores, and liquor stores.

In May 2023, Modelo Especial overtook Bud Light as the best-selling beer in the United States. 

 This came after Anheuser-Busch InBev's (BUD) - Get Free Report sales had dropped. 

 In April 2023, singer-songwriter Kid Rock called for a boycott of Bud Light. 

That call occurred after the firm collaborated with transgender celebrity Dylan Mulvaney on a March Madness-themed social media post.

Aside from the challenges Bud Light had in 2023, other smaller craft brewers around the country struggled for a variety of causes

 prompting them to file for Chapter 11 bankruptcy.

Anchor Brewing in San Francisco began experiencing financial difficulties after Japanese brewer Sapporo Holdings paid $85 million bought the firm in August 2017.

By June 2023, the beer brand had discontinued national sales before filing for Chapter 11 bankruptcy in July 2023 and shutting forever.

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