Court Declares Bankruptcy for Craft Beer Company "Amazing Brewing Company"

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Amazing Brewing Company Co., Ltd., a craft beer company, has ultimately entered bankruptcy.

According to the legal community on April 21, the 12th Bankruptcy Division of the Seoul Bankruptcy Court (Presiding Judge Choi Dooho) declared bankruptcy for Amazing Brewing Company Co., Ltd. on this day. This comes eight months after the company filed for rehabilitation proceedings in August last year, unable to withstand its management crisis.

The court appointed attorney Lee Myunghyun as the bankruptcy trustee. Creditors must file their claims by May 8, and the first creditors' meeting and claim investigation hearing are scheduled for May 20.

Founded in 2016, Amazing Brewing Company built its reputation by introducing a unique lineup of craft beers. However, the domestic craft beer market has struggled since the COVID-19 pandemic, due to intensified competition from imported beers and increased cost burdens. Previously, Sevenbrau Brewery, which gained attention for its "Gompyo Wheat Beer," also filed for rehabilitation proceedings in May last year.

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