2024-09-30 THE BANKRUPTCY ESTATE OF MACKMYRA SVENSK WHISKY AB HAS SIGNED AN AGREEMENT ON THE TRANSFER OF THE BUSINESS

On 30 September 2024, the bankruptcy estate entered into an agreement on the transfer of the bankrupt company's business to Nice Wine in Jönköping AB. The transfer is subject to notification under the Swedish FDI Act and the buyer will therefore not be able to take over the business until that process is completed. Until then, the business will continue under the bankruptcy estate's control. For more details about the buyer's ambitions with the acquisition, please see the attached press release.

2024-08-26- THE BANKRUPTCY ESTATE OF MACKMYRA SVENSK WHISKY AB MAKES THE ASSESSMENT THAT PRIVATE CASK CUSTOMERS HAVE THE RIGHT OF SEPARATION

The bankruptcy estate has investigated the issue of what shall apply to private customers who have reserved and paid for whisky/gin that has been bottled in casks for storage and later bottling and delivery via Systembolaget or the company's delivery points in Denmark and Germany. The question is far from simple, but the bankruptcy estate has landed in the assessment that these private customers have the right of separation, which means that the stored whisky/gin shall not be considered part of the bankruptcy estate and therefore cannot be sold to pay the bankrupt company's debts. However, this does not mean that private customers can pick up the casks. With some exceptions, the casks themselves are owned by the bankruptcy estate and not by the customers. The payment made by the customers relates only to the whisky/gin itself, but not to the alcohol tax and VAT that is added. In addition, the provisions of the Alcohol Act prevent the customer to just pick up the casks. It is therefore necessary to find a practical solution to the problem. Against this background, when the bankrupt company's business now is offered for sale, the bankruptcy estate will make it a condition that a buyer will respect the right of separation by honoring the vouchers issued and ensuring that the whisky/gin is bottled and that delivery can take place.

The sale process is expected to take a number of weeks and it will not be possible to give more precise information about the practical handling until an agreement has been entered into with a buyer of the business. The bankruptcy estate also understands that there are customers whose whisky/gin has already been bottled and in some cases also been prepared for delivery to customers. Exactly what applies to all such cases will be assessed continuously and information will be provided here via the website when the assessment is finalized. There is therefore no point in contacting the bankruptcy estate with questions about the assessment of individual cases in this situation.

In the case of corporate customers, on the other hand, the assessment is that there is no right of separation. No special requirements will therefore be imposed on the buyer of the business in relation to those agreements. The corporate customers who have reserved and paid whisky/gin will be listed as creditors in the bankruptcy.

2024-08-19

The Board of Directors of Mackmyra Svensk Whisky AB (publ) has, on August 19th, decided to file Mackmyra Svensk Whisky AB (publ) for bankruptcy. The bankruptcy petition has been filed at Gävle District Court.

Read the full press release here.

We will shortly be assigned a bankruptcy trustee, to whom we refer all questions. You will find the contact details on our website as soon as a trustee has been appointed by the district court. The ownership and management of Mackmyra Svensk Whisky AB is now in the hands of the bankruptcy trustee, therefore Mackmyras staff will not be able to provide further information at this time.

It is with great sadness that we must state that it is unfortunately not possible to continue the company's operations. The company management and board have struggled hard to come to terms with the company profitability and cash flow. Despite the fantastic work of both staff and management, it is still not possible to continue. Since I took over as Chairman of the Board just over a year ago, my focus, together with the newly appointed management and the Board, has been to find a long-term solution for Mackmyra, but I am forced to conclude that time has not been enough. I sincerely hope that the bankruptcy trustee now has the chance to do something constructive with the values in the company and secure the Mackmyra brand and its 25-year history. says Chairman Petter Ski.

This is a regrettable decision, especially for our staff, our incredibly loyal customers, and ambassadors. The sentiment is naturally heightened by the fact that this is happening during the company's 25th anniversary and at a time when we were truly on track to steer the company's trajectory towards profitability and a bright future.” says acting CEO Patrick Björsjö.

The appointed bankruptcy trustee is Emma Berglund Uväng, Advokatfirman Schjødt.
emma.berglund@schjodt.com