• Fingers
  • Posts
  • How a risky whiskey bankruptcy swiftly went sideways

How a risky whiskey bankruptcy swiftly went sideways

Notes on last week's Uncle Nearest legal developments

Editor’s note: This is a developing story and will be updated periodically with new information. If you have tips about what’s going on at Uncle Nearest, please get in touch by emailing me ([email protected]) or texting me on Signal (dinfontay.11). Anonymity available.—Dave.

Last Wednesday night, Uncle Nearest cofounder Fawn Weaver appeared on an episode of ABC’s business propaganda hour Shark Tank and “invested” $125,000 in a beer brand called Beer Girl. Brewbound managing editor and apparent masochist Justin Kendall watched the show, reporting Friday morning that (emphasis mine throughout):

The episode – prerecorded on an unspecified date – made no mention of Uncle Nearest’s seven-month receivership or any of the company’s financial and legal troubles.

[…]

The show ended with its usual disclaimer: “Any on-camera deal is contingent upon due diligence and the signing of a binding written agreement between the entrepreneur and the shark(s).”

If Weaver did indeed sign a contract to buy 20% of Beer Girl for $125,000, hopefully it has already cashed the check. After all: not only has Uncle Nearest been very publicly collapsing under the weight of ~$108 million in defaulted loans for much of the past year, but less than 24 hours after the Shark Tank episode aired, a bankruptcy judge dismissed Weaver’s Hail Mary Chapter 11 bankruptcy filing. Below, I’ve got some notes, updates, and reporting odds-‘n-ends, picking up from where things left off last Wednesday—when Fingers last covered this situation.

Fingers needs your support to do more independent journalism.

My award-winning coverage and commentary about drinking in America is completely funded by readers like you. Please consider purchasing a subscription to help me stay on this beat. Here's a discount:

Already a paying subscriber? Sign In.

Upgrade to read the rest of this special report, plus: :

  • • Weekly columns about drinking in America
  • • Weekenders full of industry news & analysis
  • • Commenting privileges, archive access, and more

Reply

or to participate.