Swedish single malt whisky distiller Mackmyra has filed for bankruptcy, 25 years after commencing operations.
The company, based around 150km north of Stockholm in Valbo, has filed a bankruptcy petition with Gävle District Court in the country. The news comes “at a time when we were truly on track to steer the company’s trajectory towards profitability and a bright future”, according to acting CEO Patrick Björsjö.
“The company management and board have struggled hard to come to terms with the company profitability and cash flow,” said chair Petter Ski. “Despite the fantastic work of both staff and management, it is still not possible to continue.
“Since I took over as chairman of the board just over a year ago, my focus, together with the newly-appointed management and the board, has been to find a long-term solution for Mackmyra, but I am forced to conclude that time has not been enough.
“I sincerely hope that the bankruptcy trustee now has the chance to do something constructive with the values in the company and secure the Mackmyra brand and its 25-year history.”
As well as its distillery in Valbo, Mackmyra also operates another production facility in Gävle. The sites have a combined annual capacity of around 2.4m bottles.
