Illinois Beer Distributor Seeks Chapter 11 Bankruptcy Protection
by Joel R. Glucksman on August 9, 2013
A popular Anheuser-Busch distributor sought Chapter 11 bankruptcy protection in Illinois this week, in the hopes of reorganizing its debt and emerging in a stronger financial position.
Earl Gaudio & Son Inc. officially filed for bankruptcy protection in a U.S. bankruptcy court in Danville, Illinois. A week prior to the filing, a court approved the sale of the company to Skeff Distributing Co., a Decatur-based Anheuser-Busch distributor, according to the East Illinois newspaper the News-Gazette. The company listed between $1 million and $10 million in liabilities in the bankruptcy filing, and between $10 million and $50 million in assets.
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