Figueroa Mountain Brewing Co., the second largest brewery on the California Central Coast, has filed for Chapter 11 bankruptcy and announced plans to restructure its debts and bring in a new financial partner.
The brewery was founded in 2010 by father and son team Jim and Jaime Dietenhofer in the shadow of nearby neighbor Firestone Walker Brewing. In addition to widespread distribution of their packaged product, the company opened up six on-premise locations throughout the region.
The company has already secured a new round of funding and expects to maintain full operations. Full story here.