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The company in its bankruptcy filing said it is “experiencing financial difficulties” and lists between $50 million and $100 million in liabilities. Stoli vodka and Kentucky Owl bourbon will continue to be available on store shelves while the company navigates the Chapter 11 process, which only pertains to its U.S. business. Until 2022, Stoli was sold as Stolichnaya in the United States, which loosely translates to “capital city” in Russian. The company shortened its title following Russia’s invasion of Ukraine and boycotts against Russian-branded vodkas . Stoli Group’s founder, Russian-born billionaire Yuri Shefler, was exiled from that nation in 2000 because of his opposition to President Vladimir Putin. The liquor has long been marketed as a Russian vodka, but its production facilities have been in Latvia for several decades. Stoli Group is a unit of Luxembourg-based SPI Group, which owns other spirit and wine brands. “The Stoli Group has been targeted by the Russian Federation since it was formed nearly 25 years ago,” said Stoli Group CEO Chris Caldwell in a statement. “Earlier this year the company and our owner were both named by the Russian state as ‘extremist groups working against Russia’s interests.’” Its ongoing legal battle with the Russia government has forced Stoli to “spend dozens of millions of dollars on this long-term court battle across the globe with the Russian authorities,” according to its court filing. Caldwell also said that Stoli’s global operations has been a “victim of a malicious cyber attack” that has forced the company to operate “entirely manually while the systems are rebuilt.” A slowdown in demand for alcohol has crushed several company’s bottom lines following the pandemic when people were stuck at home and stocked up. Stoli’s filings said that it has seen a “decline and softening of demand for alcohol and spirits products post-Covid and especially beginning in 2023 and continuing into 2024.”
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U.S. Secretary of State Antony Blinken arrived in Turkey on Thursday for talks focused on a critical aspect of establishing stability in Syria: clashes in the north of the country between U.S.-backed Kurdish forces and Turkey-backed rebels. Blinken met President Tayyip Erdogan at Ankara’s Esenboga Airport after visiting Jordan on his first trip to the region since Syrian President Bashar al-Assad’s government was ousted on Sunday. Erdogan and Blinken discussed the latest developments in Syria, with Erdogan calling on the international community to work together for the reconstruction of institutions in Syria, the Turkish presidency said in a statement. Erdogan also told Blinken that Turkey would take preventive measures in Syria for its national security against all organisations it deems as terrorists, the statement said, adding that Ankara would not allow any weakness in the fight against Islamic State. Blinken noted the shared interest of the U.S. and Turkey in supporting a Syrian-led political transition to an accountable and inclusive government, U.S. State Department spokesperson Matthew Miller said in a statement. He emphasised the need to ensure the coalition to defeat Islamic State can continue to execute its critical mission, Miller also said. Blinken will meet Turkish Foreign Minister Hakan Fidan on Friday. NATO allies Washington and Ankara supported Syrian rebels during the 13-year civil war, but their interests notably clashed when it came to one of the rebel factions – the Kurdish-led Syrian Democratic Forces. The SDF is the main ally in a U.S. coalition against Islamic State militants. It is spearheaded by the People’s Protection Units (YPG), which Ankara sees as an extension of Kurdistan Workers Party (PKK) militants that it outlaws and who have fought the Turkish state for 40 years. Before arriving in Ankara, Blinken said the PKK is an “enduring threat” to Turkey. “At the same time ... we want to avoid sparking any kinds of additional conflicts inside of Syria at a time when we want to see this transition to an interim government and to a better way forward,” he said. Syria is also expected to top the agenda of Blinken’s talks with Fidan, a Turkish official said on condition of anonymity, adding Ankara is ready to support Syria as a safe and stable place governed by an inclusive government. NORTHERN SYRIA Earlier this week, Turkish-backed forces seized the northern city of Manbij from the U.S.-backed SDF, which then headed east of the Euphrates River. A Syrian opposition source told Reuters the U.S. and Turkey had reached an agreement on the withdrawal. A Turkish defence ministry official said on Thursday the advance on Manbij aimed to “clear terrorism”. The official warned about unspecified efforts to provide cover for the PKK by flagging risks related to Islamic State, adding that Ankara has told Washington that one terrorist group cannot be used to eliminate another. Blinken said on Monday that Islamic State will try to use this period to re-establish capabilities in Syria, but the United States is determined not to let that happen. Some SDF fighters also withdrew from Tel Refaat and parts of Aleppo to the west in the early days of the lightning rebel offensive that swept south across the country. Turkey also directly targeted the YPG in recent days with its intelligence agency destroying 12 trucks loaded with missiles and heavy weapons in northeast Syria.PSG ease 3-0 past Toulouse
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The five-part series will debut globally on December 10, following elite global players on and off the field as they compete in the US Open Polo Championship in Wellington, Florida. A trailer for the series titled Polo, executive produced by Harry and Meghan, was released on Thursday, giving a behind-the-scenes look at the “fast-paced and glamorous world of polo”. In a statement, Harry said: “This series offers audiences an unprecedented, behind-the-scenes look into the passion and determination driving some of the world’s elite polo players, revealing the grit behind the glamour. “We’re proud to showcase the true depth and spirit of the sport — and the intensity of its high-stakes moments.” It has been produced by the Sussexes’ Archewell Productions, having previously released three documentaries with Netflix as part of a multimillion-pound deal with the streaming giant. Heart Of Invictus, which aired last August, followed a group of service members on their road to the Invictus Games, the Paralympic-style sporting competition set up by Harry in 2014 for injured and sick military personnel and veterans. Netflix also released the documentary series Live To Lead and the controversial six-part Harry & Meghan documentary in December 2022. Harry and Meghan moved to the US in 2020 after stepping down from royal duties.