Iron Hill Brewery and Restaurant has filed for Chapter 7 bankruptcy protection and says it owes more than $400,000 related to its Newtown Township location.
The bankruptcy petition by Iron Hill Brewery of Newtown LLC, which was filed in federal court late last week, is one of a number of claims filed in the region by Iron Hill and each location.
Across the entire Iron Hill chain, closer to $20 million is owed to creditors.
Chapter 7 bankruptcy is different from Chapter 11, which is where a company typically attempts to reorganize and continue operations.
The Newtown Township location lists food service firms, marketing firms, suppliers, and Village at Newtown shopping center owner Brixmor/Newtown Village as creditors. The shopping center is owed $44,333.09.
The bankruptcy filing follows the abrupt closure of the Newtown Township location, along with 15 other Iron Hill locations on Sept. 25.
Across all filings, Iron Hill reported $17,250,191.28 in confirmed claims.
BankUnited is listed as the primary creditor.
The Pennsylvania Department of Revenue is listed as a priority creditor with $92,290.68 in sales tax payments.
According to the filing, the Newtown Township location reported gross revenues of more than $6.5 million for each 2024 and 2023.
The company operated across Delaware, Georgia, New Jersey, Pennsylvania, and South Carolina.
The closure of the Newtown Township location, which opened in June 2020 amid the COVID-19 pandemic, and 15 other locations came weeks after the chain shuttered three locations in Chestnut Hill; Voorhees, New Jersey; and its Newark, Delaware, its flagship location.
Iron Hill Brewery and Restaurant was founded in 1996 by home brewers Kevin Finn and Mark Edelson and restaurateur Kevin Davies.
A&M Capital Partners took majority ownership several years ago as Iron Hill sought to expand.
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Former employees recently said they observed changes at the chain brewery and restaurant company since the ownership changed.
Before the closures, the company had spoken of plans to grow the chain in southern states.
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