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Douglas Trattner
Terrestrial Brewing Co.
Citing significant financial challenges, Terrestrial Brewing (7524 Father Frascati Dr.) this week filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court. The brewery, which opened at Battery Park in 2017, will remain fully open while it attempts to restructure its debt.
"After careful consideration, Terrestrial Brewing filed a Chapter 11 in order to help the business to remain open while we continue to work with our lenders," says co-owner Ryan Bennett, who opened the brewery with brewer Ralph Sgro. "We considered it the best option to strengthen the business going forward."
In 2021, the brewery announced ambitious plans to expand the Terrestrial footprint into the adjacent space as well as the one above. The multifaceted blueprint included a full-service restaurant on the ground floor and a live-entertainment venue and event space above. The restaurant opened in July of 2022 and then rebranded with a new name and identity in October of the same year. The music venue has not yet opened.
"Due to numerous circumstances outside our control, we experienced significant delays and costs associated with the expansion project," Bennett adds. "As a result, the main component of the project, the upstairs event space, has not been completed. The decision is unfortunate, but we are confident this will enable the business to continue, as well as, grow. "
Bennett stresses that the brewery and restaurant will remain open in their full capacity for the foreseeable future.
"We feel confident in a positive outcome," Bennett says.
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