Stoli, a top vodka brand with a presence across the world, filed for bankruptcy last week - with an apparent cybersecurity incident among the reasons.
In the bankruptcy filing, the company listed many reasons for its financial failings, including legal disputes with the Russian government, the country’s confiscation of two distilleries worth around $100 million, and a ransomware attack that allegedly happened in August 2024.
In the official document filed with the Texas bankruptcy court late last month, the company’s CEO Chris Caldwell discussed the cyberattack. “In August 2024, the Stoli Group’s IT infrastructure suffered severe disruption in the wake of a data breach and ransomware attack,” he said.
I really don’t like tech radar articles. There’s no real information there. I know almost nothing more than just reading the headline. Clearly they mean a restructuring bankruptcy as there are mentions of future plans. But the headline makes it sound like liquidation.