USA: Yakima Brewing & Malting Co has to deal with eviction issues
Yakima Brewing & Malting Co has to deal with eviction for the second time in less than a year after falling behind on its rent. Yakima owes $34,650 in back rent and penalties for the 20,000-square-foot brewery built in 1990 to expand production capacity, Associated Press reported on August 16.
The brewer was served a "pay rent or vacate" notice on July 28 and has been ordered to appear in court Aug. 26 or be evicted. Paul Brown, Yakima Brewing's vice president of operations, stated his company intends to pay the rent it owes. The failing payments come from "cash flow concerns" related to the company's growth, he said.
"We're really trying to catch up," Brown said Monday, remaining optimistic about the company's future. "We're going to be around and continue producing beer." Brown said the company is currently focusing on brewing as much of its popular Mandarin Hefeweizen as possible.
Yakima Brewing's Grant's Brewery Pub was evicted from its longtime North Front Street home in October 2004 after amassing more than $85,000 in debt owed to the Burlington Northern Santa Fe Railroad. The brewery pub moved to a new location.
The brewery was charged as well last year, with issuing securities without a license, misrepresenting its financial condition to investors and other violations of state securities laws. The Washington Department of Financial Institutions called the brewery "a threat to the investing public." Brown, co-owner J. Gregory Tranum, and Yakima Brewing face fines of up to $10,000 for each violation.
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