Tampa based World of Beer with two locations in Orlando, files for Chapter 11 Bankruptcy

World of Beer Bar & Kitchen has filed for Chapter 11 Bankruptcy in a bid to re-organize the business to eliminate debt.

Tampa based World of Beer Bar & Kitchen has filed for Chapter 11 bankruptcy protection, with the chains parent company, WOB Holdings, and several affiliates including World of Beer Inc., and World of Beer Franchising LLC filing in the United States District Court for the Middle District of Florida.

The company has reported assets of $10 million to $50 million, with liabilities of $10 million to $50 million, with 49 or fewer creditors.

World of Beer is citing high operating costs, rising rent, and the increase in interest rates as the main factor in its financial problems.

Another factor is. the country-wide decline in craft beer consumption, with the segment experiencing sales declines in 2022 and 2023.

According to data, World of Beerended 2023 with $53.6 million in sales, a 13% decline year-over-year, while the company experienced a 12.5% unit count decline over the same period.

The chain, which offers a huge selection of hundreds of beers by bottle and on tap, has 42 locations, with 2 Orlando area locations, in Downtown Orlando and O-Town West.

For more information on World Of Beer Bar & Kitchen: https://worldofbeer.com.

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