Dave Bautista-Backed Whiskey Distillery Files for Chapter 11 Bankruptcy

(Photo: Devils River Whiskey)

On Thursday, San Antonio-based Devils River Whiskey distillery filed for Chapter 11 bankruptcy in a bid to reorganize its assets and continue operating. The news comes less than two years after the whiskey producer signed actor and former professional wrestler Dave Bautista to its ownership group.

Well distributed outside its home state of Texas, the company is known for its smorgasbord of whiskey offerings including its Single Barrel, Distiller’s Select, Coffee Bourbon and Agave Bourbon. Devils River also operates a Prohibition-themed bar in downtown San Antonio that was recently named one of the 11 best speakeasies in the city by My Bartender.

The brand was founded in 2017 by self-taught distiller Mike Cameron, who continues to act as CEO.

According to bankruptcy filings, Devils River owes between $1 million and $10 million to a total of less than 50 creditors. Its largest unsecured creditor is McDermott, Will & Emery, widely recognized as one of the highest-grossing law firms in the world. The distillery’s second-largest creditor is Sazerac, the liquor powerhouse behind recognizable names like Blanton’s, Pappy Van Winkle and Fireball Cinnamon Whisky. Devils River reportedly owes the above parties $317,000 and $258,000, respectively.

CEO Mike Cameron told Biz Journals that he’s confident the brand can survive tough market conditions with help from the courts. Cameron cited inflation and a downturn in spirits consumption as contributing factors to the bankruptcy filing.

Among casual consumers, Devils River is best known as the brand backed by Dave Bautista. Famous across the world for his domineering roles in “Guardians of the Galaxy,” “Blade Runner 2049” and “Dune,” the actor joined forces with the team in 2023 as a member of its ownership group.

“I’m extremely honored to join the Devils River family,” Bautista said in September 2023. “I was blown away by their products and the love and pride that goes into making them. I couldn’t be more excited to contribute to the growth of the company.”

Unfortunately, Devils River is the latest in a trend. At the beginning of last month, the critically acclaimed Portland American single malt specialist Westward Whiskey filed for Chapter 11 bankruptcy in its home state of Oregon, citing a mix of economic pressures and industry challenges. A few months before that, Ireland’s Waterford Whisky suspended sales and entered receivership after reported losses of over $8 million.

The international spirits market has been especially punishing as of late, due in large part to trade tensions, declining consumption among younger consumers and the aftershocks of COVID-19.