Stoli Vodka Seeks Bankruptcy Protection Following Cyberattack and Legal Issues
Stoli Group USA, the maker of Stolichnaya vodka, has filed for Chapter 11 bankruptcy following a severe cyberattack and ongoing legal disputes with Russia over brand ownership. The company, which rebranded to "Stoli" in 2022 to distance itself from Russia, is facing financial difficulties with liabilities between $50 and $100 million. The legal feud involves Russian-born billionaire Yuri Shefler, who has been exiled due to his opposition to President Putin. The bankruptcy filing also includes Kentucky Owl, another brand owned by Stoli Group.