The parent company of a popular beer brand has filed for bankruptcy .

News of this bankruptcy broke just a little over a week after the brand suddenly closed its brewery and restaurant operations .

The Lincoln Chronicle reports that Oregon Brewing Company — the parent company of Newport, Oregon-based Rogue Ales & Spirits, the state’s third biggest craft brewer — filed for Chapter 7 bankruptcy in federal court on Monday.

According to the United States Courts’ website , Chapter 7 bankruptcy “provides for ‘liquidation’ — the sale of a debtor’s nonexempt property and the distribution to creditors.”

Chapter 11, on the other hand, allows for the debtor to “seek an adjustment of debts, either by reducing the debt or by extending the time for repayment;” reorganization of the company, t

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