Flying Fish Brewery files for bankruptcy among financial troubles
Flying Fish Brewery Company, a pioneering craft brewery in New Jersey, has filed for Chapter 11 bankruptcy protection. The company, based in Somerdale, faces significant financial challenges following the unsuccessful merger attempt with another South Jersey brewery earlier this year.
As of Thursday, Flying Fish Brewery reported liabilities of $9.3 million exceeding its assets of $1.3 million. Additionally, the company disclosed a notable decline in revenue, falling from $4 million in 2022 to $3.1 million in 2023.
Despite these challenges, Flying Fish has remained committed to producing high-quality, innovative craft beers. However, due to the nature of the bankruptcy, the next step could result in its closure which would serve as a blow to the local ale community.
Located at 900 Kennedy Blvd in Somerdale, Flying Fish was founded in 1995, Flying Fish was one of the first craft breweries to emerge in the Garden State, and has since become a beloved staple of the local beer scene. Some of their most popular ales include the ESB (Extra Special Bitter), the Farmhouse Summer Ale, and the Exit series of beers, each named after a different exit on the New Jersey Turnpike.
News of its bankruptcy comes after a number of local breweries struggled in 2023. Apparently, this is due to changing consumer preferences and economic pressures which have caused a decline in sales, while supply chain issues have made it harder for breweries to obtain ingredients and materials, leading to delays and higher costs. Unfortunately, the craft beer landscape of New Jersey may be changing forever.