Ransomware hangover, Putin grudge blamed for vodka maker’s bankruptcy
December 5, 2024 at 03:34AM Stoli Group’s US subsidiaries, Stoli USA and Kentucky Owl, filed for bankruptcy due to over $84 million in debt, worsened by an August ransomware attack disrupting operations and compliance. Factors include soft alcohol demand post-COVID-19 and ongoing legal battles with Russia over vodka trademarks. Reorganization aims to protect creditor interests. … Read more