Market research
Pittsburgh Brewing Co. has filed for protection from creditors under federal bankruptcy regulations.
The move was precipitated by the brewer's failure to pay bills amounting to US$2.5m for water and sewage. However, the US brewer, which makes the Iron City Beer brand, will continue to operate while under Chapter 11 protection, the company's attorney Robert O. Lampl said.
The outstanding bills date back to 1996, and, on Monday, water and sewage authorities issued a notice threatening to cut off water service if the company did not meet its obligations - the brewer had previously agreed to pay the bill in instalments - by the close of the following day.
The bankruptcy filing revealed that Pittsburgh Brewing, which employs 250 people, has estimated assets of less than US$10m and debts of less than US$10m.
Sectors: Beer & cider
