GRAND RAPIDS, Mich. (WOOD) — Nearly a month after Dutch Girl Brewery in Spring Lake shut its doors forever, it filed for bankruptcy protection.
The brewery closed March 14. It filed for Chapter 7 voluntary bankruptcy on April 2, court documents show, which means it is going completely out of business and liquidating all of its assets.
The brewery, located at 14964 Cleveland St., opened less than two years ago. The bankruptcy filing shows Dutch Girl’s income in 2015 was 114,101.00 and $298,878.34 in 2016.
In the bankruptcy documents, the brewery said it had $157,000 in assets, including $90 in a checking account at a bank. Its liabilities, meanwhile, were listed at $330,567.32.
Of that, $199,144.30 were creditor loans secured by property collateral. Eight employees are owed back wages totaling $3,971.42. The Michigan Department of Treasury Collections Division is owed $35,000 and the federal Internal Revenue Service is owed $1,143.
The owners of the brewery are trying to sell it for $350,000 to pay off the debt. If a buyer doesn’t come forward, the brewery will go up for auction.