MIDDLETON, Wis. (WMTV)-- A Chicago-based buyer is interested in buying a Middleton distillery after it filed for bankruptcy.
Death's Door Spirits and Distillery filed for Chapter 11 bankruptcy on November 21 in the U.S. Bankruptcy Court for the Western District of Wisconsin.
According to the court filing, there are less than 50 creditors and Death's Door has less than $1 million in assets. The company owes roughly $5.2 million. The largest amount, nearly $3.7 million is owed to Serralles USA.
Death's Door and Serralles entered a partnership agreement in 2011.
Death's Door was founded in 2005 on Washington Island. In 2011, the company entered a partnership with Serralles. A year later, the company unveiled its new facility in Middleton. At the end of October 2018, Serralles terminated its distribution contract with Death's Door.
According to court documents filed Monday, CDF Capital, LLC (CDF) is interested in buying the company. CDF and another company placed offers in November. CDF was the highest bidder.
The next hearing is scheduled for November 30.