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Hindustan Times
4 days ago
- Business
- Hindustan Times
Did Jack Daniel sense a looming doom for the Kentucky whiskey market? Here's a blow-by-blow breakdown
It seems the smooth pour of Kentucky whiskey has hit a rough patch, and Jack Daniel's parent company, Brown-Forman, appears to have sensed it coming. Brown-Forman plans to outsource barrel production, aiming to save $70-$80 million annually amid a struggling bourbon market. (AP Photo/Toby Talbot, File)(AP) Just this January, the Louisville-based spirits giant announced that it's cutting 12% of its global workforce and shutting down its very facility where it's been handcrafting barrels since 1945. The decision, expected to impact around 210 employees, is to save between $70 million and $80 million annually. Following Jack Daniel's exit, the message is clear: the whiskey business isn't what it used to be. ALSO READ| Kentucky whiskey bankruptcies: Which distilleries are broke, and why The company explained that it will now source barrels from external suppliers, expecting to bring in over $30 million by selling off its cooperage assets. Brown-Forman also shuffled and appointed Jeremy Shepherd as its new chief marketing officer. 'These actions reflect the venerable company's 'relentless focus on evolving our strategy, our portfolio and our organization to grow and thrive,'' said CEO Lawson Whiting, per AP. 'Today's announcement will ensure we have the structure and teams in place to continue on this path, while also making investments that we believe will facilitate growth for generations to come.' Kentucky whiskey market is going through bankruptcies While Brown-Forman is trying to stay nimble, this week a string of bankruptcies has shaken the state's $9 billion whiskey industry, according to the Kentucky Distillers' Association. LMD Holdings, the parent company of Luca Mariano Distillery in Danville, filed for Chapter 11, with court documents showing a jaw-dropping $25 million in liabilities. Garrard County Distilling, a $250 million operation that only began production in 2024, was shut down in April due to mounting debts. Even Stoli Group USA, along with its Kentucky Owl whiskey label, filed for bankruptcy after a double blow: declining spirits demand and a cyberattack that crippled operations. ALSO READ| How much cheaper will whiskey be after India-UK FTA? What experts said The problems are starting to mount industry-wide, whether it be inflation-strained consumers, Gen Zs' recent shift to not wanting whiskey, or renewed tsarphobia over tariffs on American liquor in the export markets.
CTV News
18-06-2025
- General
- CTV News
Quebec bans transport of some wild animals in nearly 100 communities over rabies risk
A captured raccoon peers through the bars of a trap in Grand Isle, Vt., Thursday, Sept. 27, 2007. THE CANADIAN PRESS/AP-Toby Talbot The Quebec government is temporarily banning the transportation of some wild animal species in nearly 100 municipalities located close to areas where raccoon rabies has been detected. The ban is in force until Aug. 17 and applies to raccoons, striped skunks, grey foxes, red foxes, as well as coyotes and their hybrids. Communities affected by the ban are located in the Montérégie and Estrie regions to the south and east of Montreal. The government says relocating an injured, orphaned or nuisance animal can spread rabies into new areas. Thirty-two cases of raccoon rabies have been detected in the province between December 2024 and June 12. Residents of the Estrie and Montérégie regions are also asked to report sightings of raccoons, skunks or foxes that appear dead, disoriented, injured, or aggressive. This report by The Canadian Press was first published June 18, 2025.
