USA, TN: Memphis Made Brewing Company files for bankruptcy

Memphis Made Brewing Company, one of the larger craft beer makers in the city, has filed for Chapter 11 bankruptcy, News3Channel reported on August 8.

The filing would allow the company to reorganize its finances and pay creditors. The paperwork, filed Thursday, says the company has between $1 million and $10 million in assets.

But Memphis Made may not fade away, according to a post made on the brewery’s social media Saturday.

“We’re working on a plan that will enable us to continue brewing beer and serving our community. After the reorganization process, we believe we’ll be a better brewery on the other side,” the brewery said.

Memphis Made, known for styles including Fireside amber, Junt cream ale and Cat Nap IPA, is one of several breweries that opened in Memphis around 2013.

Owners Andy Ashby and Drew Barton originally opened the brewery, and later a taproom, in the Cooper-Young neighborhood. They moved the operation to a larger space on Madison in the Edge District last year. The company also operates a bar in the Memphis airport.

Memphis Made told the Memphis Business Journal they are exploring the possibility of selling the business.

The brewery released a statement on social media August 9, assuring the public they are still brewing:

“While it’s a challenging time at Memphis Made Brewing Company, we want to make it clear we are still open for business. We’re brewing beer, supplying our distributors, and operating the taproom.

We started the company as a means of giving back to our city. That’s the reason we named it Memphis Made: to try and best represent the place that gave us so much. We know how people can look down on Memphis and we wanted to counter that narrative by brewing good beer and educating people about how awesome this city can be.”

MBJ reported the company brewed 3,100 barrels of beer last year, making them the fourth-largest local brewer.