Foreclosure Postponed But Arcadia Brewing’s Future Still Cloudy
Like a New England IPA, Arcadia Brewing's future remains cloudy.
Multiple reports say a foreclosure auction that could have happened as early as Thursday (Dec. 20th) has been postponed for at least two weeks, giving a temporary reprieve to financially troubled Kalamazoo's Arcadia Brewing Company.
In a report on MLive, Kalamazoo County court officer Karen Hencken confirmed that a decision on foreclosure has effectively been postponed until January 10th.
WWMT is reporting Arcadia Brewing's owner Tim Suprise says he has struck distribution deals in Philadelphia and Los Angeles. and will have a "big announcement" sometime early in January.
Previous filings and reports say Arcadia owes more the $1.4 million on the mortgage for the location at 701 E. Michigan Avenue, and an additional $97,000 in taxes, according to WWMT.
Suprise attributes some of his financials troubles tot he massive growth of the craft beer industry, saying at the beginning of the decade there were 2,500 craft breweries and that number has almost tripled to more than 7,000.
The Michigan Ave. brewpub remains open.