Company that was set to revolutionize the beer industry faces a gritty future.
According to an article in Forbes, Fishers, Indiana-based company SteadyServ Technologies LLC was set to “revolutionize the entire alcohol industry with cutting-edge technology and analytics that few people thought were even possible.” Nobody could imagine that two years later, the company would be filing Chapter 11 bankruptcy.
SteadyServ was bringing an antiquated industry into the future with a data-driven platform known as iKeg. In essence, as reported by Forbes, the company would utilize a “smart scale that weighs kegs to the ounce, letting retailers know exactly how much beer they have in each keg and when it needs to be changed.” This would eliminate the guessing game associated with determining how much beer was left in a keg. The company, started in 2012, was a successful startup receiving $20 million in funding with a number of high-profile customers.
The Indiana Business Journal reports that the company filed for Chapter 11 bankruptcy “in an effort to reorganize operations and restructure its heavy debt load.” The company indicated at the time of filing that they had “nearly 6.5 million in liabilities and only $55,000 in assets.” Unfortunately for investors in the company, this may mean significant losses. SteadyServ filed bankruptcy in the hopes that it would give them time to restructure, but the company has now permanently closed.
If you invested in SteadyServ through an investment advisor, broker, broker-dealer, bank, hedge fund, or other financial professional, you may be able to recover your losses through an arbitration or lawsuit. Founding attorney Brian Levin has recovered tens of millions of dollars for investors throughout the world. Please contact us now for a free case evaluation at co*****@le********.com or (855) 862-2306. Most cases are taken on a contingency-fee basis, meaning we are not compensated unless we recover money on your behalf.
