What do you do when a product you love may be discontinued because its manufacturer is facing bankruptcy? You buy the brand of course! At least that’s what Wisconsin resident Margaret Ebeling did. Thanks to her, you can still get an alcoholic beverage that tastes like our official state pastry, the Kringle.
According to the Milwaukee Journal Sentinel, Ebeling is the former marketing director of the now-bankrupt Death’s Door Distillery. She knew the company was in financial trouble, but when her boss announced they were discontinuing her favorite product, Kringle Cream, she was heartbroken. She decided to buy the brand in order to keep it on the shelves.
She is now working with a Milwaukee-based co-packer and a distributor to build her business. Milwaukee is a natural home for this Kringle-favored drink since the Milwaukee-Racine corridor is Wisconsin’s Kringle belt. And in case you were wondering, the product is made with 100% Wisconsin cream.
We wish her success as she takes a product that could have been lost to bankruptcy, and runs with it.
A Familiar Story
The story of Kringle Cream is not an unfamiliar one to those of us in the bankruptcy world. At Hanson & Payne, we regularly work with companies who are in financial distress, and willing to do almost anything to stave off bankruptcy. We facilitate the sale of assets and provide advice on how particular sales may impact future legal actions. It is important that sales be structured so that there is no question that they should be invalidated if the sellers ultimately file for bankruptcy.
At Hanson & Payne, we understand that risk and sacrifice that goes into starting and running a successful business. And there is no one out there who can appreciate how hard it is to accept that an endeavor you have poured your heart, soul, and money into is not going to make it. We help businesses hold things together when times get tough and wind things down when it no longer makes sense to go on. We are business-savvy, but also compassionate guides during difficult times.
Passing The Torch
We also work with people and businesses who are interested in buying assets from distressed businesses, or out of bankruptcy court. There are lots of rules and regulations that must be followed in these situations, so working with an experienced attorney is key. We can assist with due diligence, financing, contract negotiation, and other matters.
Our firm also has a great appreciation for the work that business owners and entrepreneurs do. We know that the risks they take are what keep our economy ticking. It is our honor and privilege to serve them when they have legal needs.
Milwaukee’s Bankruptcy Firm
Hanson & Payne, LLC is a trusted advisor to businesses in the Milwaukee area. We have a reputation for being business-minded in an industry that is often criticized for not understanding that legal action is a means to an end, not an end in and of itself. If you are looking for legal counsel, we would be honored to take your call. Contact us today to schedule an initial consultation.