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| Image: Noble Rey Brewing Co. |
Noble Rey Brewing Co. of Dallas has filed for protection under Chapter 11 of the federal bankruptcy code, according to a filing with the Texas Northern Bankruptcy Court dated December 19, 2018.
Chris Rigoulot, founder of Noble Rey, released a statement on the matter, indicating the company has no plans to close, with the move being made primarily to help Noble Rey organize existing debt.
"Chapter 11 is part of a strategic restructuring that allows companies time to become profitable again while restructuring any debt," says Rigoulot. "We are making the necessary changes to be in this industry for the long haul!"
"Noble Rey is going through a strategic restructuring, and we couldn’t feel better about that decision," adds Rigoulot. "We feel the excitement of creative enterprise again, and Noble Rey will begin to push the envelope and reaffirm ourselves as a source of innovation, and with no compromise to our existing product or image. We simply got caught up in the rat race, and the realization of the support we have received from the local community has brought us back to what we wanted this thing to be in the beginning."
The brewery began operations in July 2015, and in the years since has established itself as one of the area's more recognizable brands. Noble Rey was the first to introduce label graphics designed around full-body characters that come together when viewed across stacked cans.
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