Iron City rusting out
For the second times in 10 years, the maker of Iron City beer has filed for Chapter 11 bankruptcy protection.
The Pittsburgh Brewing Co. faces charges by the Pittsburgh Water and Sewer Authority that it owes more than $2 million in unpaid water bills dating back a few years. Its initial filing in federal court in Pittsburgh shows the company has estimated assets of less than $10 million and debts of less than $10 million.
Pittsburgh Brewing, one of the last regional brewers -- an industry category marked by a production capacity of less than one million barrels annually -- has had strong sales locally, but nationally has faced an ever-growing number of competitors.
For the past several years, it has created some market buzz by reviving its 1950s company logo and received several design awards for converting to modern aluminum bottles.
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Posted by William M. Dowd at 12:01 PM