By Martin O'Sullivan (January 3, 2017, 3:08 PM EST) -- Vodka producer Roust Corp. has filed for Chapter 11 bankruptcy protection in Manhattan, almost four years after predecessor Central European Distribution Corp. did the same in Delaware, seeking to reorganize about $1.14 billion in debt due to depreciation, import restrictions, illegal competition and more.
CEDC entered bankruptcy in 2013 and emerged later that year as Roust, which produces vodka in Poland and Russia and distributes other spirits across Europe. The company on Friday said that black market competition, currency depreciation in several countries, a decrease in Russian lending and a ban on Russian products in Ukraine pushed the company to craft...
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