The Stoli throng USA, a subsidiary of Stoli throng which makes Stoli vodka among other spirits, filed for Chapter 11 financial setback in U.S. Federal financial setback Court in the Northern District of Texas Wednesday.

The corporation said that a reduced demand for spirits in 2023 and 2024 as well as rising prices were among the causes of the financial setback in its declaration filed Sunday.

The corporation estimated assets in the range of $100 million to $500 million and debts between $50 million to $100 million in its voluntary petition.

Stoli throng USA, along with affiliate and bourbon distributor of Kentucky Oak, intend to file a joint schedule of reorganization that will, “preserve employee jobs and allow the Debtors to continue as a going concern.”

USA TODAY reached out to Stoli throng USA for further comment Monday and did not receive an immediate response.

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financial setback influenced by long battle with Russia

The American corporation said in the declaration that the parent corporation suffered a data breach and ransomware attack in August that caused, “substantial operational issues throughout all companies within the Stoli throng.”

Stoli throng USA said that all systems affected by the attack will be fully operational no earlier than the first quarter of 2025.

The corporation said that the two main holding companies of Stoli throng were designated “extremists” by a Russian court in July for providing aid to Ukrainian refugees and that the Russian government seized the last assets the corporation had in the country.

The filing noted that the judgment was the latest shift in a long running battle between the Russian government and the spirit producer.

The founder of the corporation, Yuri Shefler, fled Russia in 2002 and faced criminal charges found in the 2010s by the United Kingdom and Switzerland to be politically motivated and unjust, according to the declaration.

The corporation has fought the Putin government for the copyrights to the Stolichnaya and Moskovskaya vodka names since 2000 in over 23 jurisdictions, according to the declaration.

The vodka brand changed its name from Stolichnaya to Stoli in 2022 in response to Russia’s invasion of Ukraine. The spirit has been made in Latvia since 2000.