Company Behind Game Day Vodka Files for Bankruptcy Amid Unpaid Debts of More Than $1 Million to Multiple NFL Teams

The Street reported on Thursday that the parent company behind Game Day Vodka, Never Forget Brands, filed for bankruptcy with the US Bankruptcy Court for the District of South Carolina. The Street reports the brand owes over $1 million to multiple NFL teams. The spirits company is known for its branded vodka bottles as a result of partnerships with college football and NFL teams. Some of the debts the company allegedly incurred include $560,000 to the NFL's Buffalo Bills and $450,000 to the New England Patriots. The Sun reported on Thursday that the company also owed the Indianapolis Colts $110,000 and the New Orleans Saints and Baltimore Ravens $150,000 each. The Street reported that the extent of Never Forget Brand's debt didn't simply involve NFL teams. The spirits company additionally was reported to owe $377,678 to Revel XP , a college hospitality company that offers ticketing services and hosts tailgating events. But the company's purported debts didn't stop there. Never Forget Brands additionally owes its glass bottle manufacturer Pavisa USA $2.1 million, a sports marketing company named Learfield Communications $2.1 million and over $1 million to a craft cocktail company, the Acceleration Group. The Sun reported that Never Forget Brands Game Day Vodka rose to prominence after it was tapped to be the official vodka brand of 14 NFL and NCAA teams in 2022. Never Forget Brands manufactures Spiked, a line of canned vodka ready-to-drink cocktails, in addition to Game Day Vodka, which appeared to be its flagship brand. Regardless of the multiple liens against the company, Never Forget Brands did not make an official statement sharing the reasons why it declared Chapter 11 bankruptcy. The Street reported that The Isle of Palms, a debtor in South Carolina shared Never Forget Brands possessed $14.8 million in assets and $13.7 million in liabilities. A type of injunction called an automatic stay was filed in favor of the company, suspending the parties from taking action to collect against the spirits brand as bankruptcy proceedings continued. Food Sided reported in January 2021 that Never Forget Brands launched Game Day Vodka as a premium spirit within the category. The brand claimed it was 100% corn-based, and was distilled six times via a Terrepure process which led to a smooth taste.

Game Day Vodka's Bankruptcy Is Just One of Many in an Industry Facing Changes

The liquor industry is facing a challenging year. In March , the celebrated Colorado Distillery Lee Spirits' Co filed for bankruptcy, citing the challenges of a post-COVID-19 landscape and shifts in the industry. Market Watch reported that Goldman Sachs downgraded Diageo's stock from neutral to sell. The outlet referenced an "ongoing slump in the U.S. spirits market," as its reasons for doing so. Diageo's stock has dipped 25% over the last 12 months, according to Market Watch. It appears what might be driving the drop in Diageo's stocks might just be reduced demand. Penn State Extension shared that the average imbiber dropped their weekly drink allotment from four drinks per week to three. Though Americans were drinking at higher rates during the COVID-19 Pandemic, it appears there's been a shift away from alcohol. The World Health Organization shared that no amount of alcohol was safe in a bombshell study in January 2023, and Meininger's International expressed more than its fair share of concerns about the existential threats set to face the liquor industry in response to the organization's findings. [newsletter-promo]