INDIANAPOLIS (WTHR) — Scotty's Brewhouse and Thr3e Wiseman Brewing Company have filed for bankruptcy and plans to close four locations by the end of the year.
According to court documents, the company filed for Chapter 11 bankruptcy on December 11.
Three of the locations closing by the end of 2018 are in Indiana.
The locations that are closing include Muncie, downtown Indianapolis, Carmel, and Waco, Texas, according to our partners at Inside Indiana Business.
In a news release provided to Inside INdiana Business, Scotty's Brewhouse Brand President Chris Martin said, "The process we have initiated today will allow us the opportunity to emerge stronger and better position the Company for growth. We will close locations that are not profitable by the end of this year. Additionally, the company moving forward will focus its efforts on growing the brand through franchising as well as management agreements. These actions will allow us to provide better service to our guests and strategically expand with new locations in the future.”
The Indianapolis-based restaurant has over a dozen locations including Bloomington, Brownsburg, Indianapolis, Carmel and Muncie. There are also locations in Missouri, Texas, Illinois and Ohio.
The first Scotty's location opened in 1996.
Eyewitness News reached out to Scotty's Brewhouse founder Scott Wise and received this response:
"I learned of the Scotty's and Thr3e Wise Men bankruptcy filing today at the same time as the public. Although I have been separated from the company for over a year and haven't been involved in any Scotty's management in over 2 years, I can't say my heart and soul ever left after building a company into 18 locations in 4 states over 20 years. Not only did I spend half my life and my entire career at Scotty's; but, I worked with some of the best people I could ever imagine. We grew a community-centric, philanthropic focused brand that was more than just food and drink - it was a feeling of warmth and smiles and generosity that I will never forget. I'm mostly saddened by the news as it is affecting many employees right before the holidays. I am hopeful that the Chapter 11 reorganization gives the new owners the opportunity to go back and correct all the reasons that led to this situation. And, I am hopeful that they can come out of this situation as a stronger, better and more profitable company in the future."