Craft brewer 7 Mile of Cape May County enters bankruptcy
CAMDEN – Another South Jersey craft brewer is seeking bankruptcy protection from creditors — this one after closing down last year.
7 Mile Brewery LLC of Rio Grande has reported liabilities of $601,000 and assets of $135,000, mostly in the form of brewing equipment, in a recent filing in U.S. Bankruptcy Court in Camden.
The craft brewer, which closed in May 2023, has gone to court because its landlord is “threatening to auction off (its) assets on-site,” according to its filing for Chapter 7 bankruptcy protection.
7 Mile, which operated from a Route 9 strip center, filed for bankruptcy protection on Feb. 22. But it only submitted papers detailing its financial spiral on March 12.
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It’s the third South Jersey brewer to enter bankruptcy in recent months.
Flying Fish, Forgotten Boardwalk falter
Flying Fish Brewing Co. of Somerdale, which pioneered the local craft beer movement when it opened in 1995, filed for Chapter 11 bankruptcy in December.
Its assets, including the Flying Fish brand and recipes, were sold at bargain prices in a court-ordered auction last month.
Separately, Forgotten Boardwalk Brewing Co. of Cherry Hill closed last month after it, too, sought Chapter 11 protection.
The 10-year-old firm said it was forced into bankruptcy after its landlord refused to renew a lease. It's seeking an auction to resolve its debts.
In its March 12 filing, 7 Mile reported revenues of about $40,000 for the first 4½ months of 2023. That compared to revenue of $257,000 for all of 2022.
The brewery was founded in September 2016, when an announcement said 7 Mile would have an annual production capacity of 5,000 barrels. It planned to sell to consumers and to bars and restaurants in Cape May County.
The company’s demise was reflected on its Facebook page, which in December 2022 noted 7 Mile was for sale.
“Got a dream? Now is the time to take action," the post said.
One month later, another post offered all merchandise and glassware at half-price.
“If it’s not nailed down, make us an offer. No reasonable cash offer will be refused,” it said.
The message turned bittersweet one day before closing, when customers were told they could keep the glass, with 7 Mile’s logo, that held their beer.
“As sure as this glass is empty, our hearts are filled with joy,” said the post, which noted 7 Mile had tapped its last keg and was selling its final cases.
“We thank you all for the opportunity to serve you and the community,” it said.
A final message of gratitude one day later started, “Well, that’s a wrap.”
The company's assets are expected to be liquidated under its Chapter 7 filing, with the revenue covering some of its debts.
Peter Beyda, a Lake Worth, Florida, man who owns 7 Mile, could not be reached for comment. His attorney did not respond to a request for comment.
Jim Walsh is a senior reporter for the Courier-Post, Burlington County Times and The Daily Journal. Email: Jwalsh@cpsj.com.
This article originally appeared on Cherry Hill Courier-Post: 7 Mile, craft brewer from Rio Grande, seeks protection after closing
