The premium chocolate rum liqueur Tobago Gold, known for its rich Caribbean flavors, has officially declared bankruptcy. Founded by Lars Söderström, the brand made headlines for its innovative blend of rum, chocolate, and Caribbean spices, but a series of challenges led to its financial collapse.
Tobago Gold is a unique chocolate rum liqueur crafted with Caribbean spices and bottled at 17% ABV. Registered in the Netherlands, the brand sought to bring an exotic taste experience to global markets. Despite its ambitious goals, Tobago Gold faced mounting difficulties that ultimately resulted in its bankruptcy on November 12, 2024.
The downfall of Tobago Gold stems from several interconnected issues:
In a bid to survive, Tobago Gold implemented austerity measures and attempted to renegotiate creditor terms. Unfortunately, these efforts fell short of addressing the financial deficit.
To recoup some losses, the company invited bids for its remaining assets, including finished products, bulk goods, and packaging materials. A German firm, Your Success Counts, led by board chairperson Ute Hagen, purchased the stocks for €18,500 (approximately $19,077).
From 2022 to 2023, Tobago Gold focused on expanding into European Union markets, bolstered by substantial financial backing from two investors. Despite initial promise, the brand’s growth trajectory stalled, making it difficult to sustain operations.
Tobago Gold is not the only brand to face financial difficulties recently. English spirits producer Alderman’s Drinks, known for Didsbury Gin, also went into liquidation last week after accruing debts of nearly £200,000 ($245,877).
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The Spirit Business’ Article: Tobago Gold Goes Bankrupt written by Melita Kiely
The image of the article is courtesy of © Ajcabeza via Canva.com
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