TROY HILL — Pointing to estimated liabilities of up to $10 million, Pennsylvania Brewing Company — owners of the Troy Hill business Penn Brewery — filed for Chapter 11 bankruptcy protection on March 31. However, the location has remained in operation and leadership has vowed to move forward with the brewery.
“We want to address this directly and transparently before any speculation begins: Penn Brewery is not closing,” wrote Stefan Nitsch, the brewery’s owner, in a statement released to social media on April 2. “Like many businesses, we are utilizing Chapter 11 as a strategic tool to restructure and secure a stronger future.”
According to court documents obtained by The Chronicle, Pennsylvania Brewing Company estimates it has between $1 million and $10 million in liabilities, with First Commonwealth Bank listed as its highest debtor at $5.1 million. Meanwhile, the company estimates having up to $50,000 in assets.
The case was filed in the United States Bankruptcy Court for the Western District of Pennsylvania.
Pennsylvania Brewing Company did not return requests to comment for this story before publication.
In the statement, Nitsch said that Penn Brewery has faced “real challenges in a changing economy,” and “made the decision to keep our team intact” even when it “came at a cost.”
“This decision allows us to reset, reorganize, and move forward in a way that protects what matters most: our employees, our customers, and the legacy of Penn Brewery,” Nitsch wrote in regards to the filing. “Our gates to the biergarten here on Vinial remain open, and operations continue as normal.”
Following the filing, Penn Brewery permanently closed its location at Pittsburgh International Airport, according to an April 7 article in the Pittsburgh Post-Gazette.
