Nonalcoholic Retailer Boisson Files for Bankruptcy, Closes Stores
By Nick Trombola April 9, 2024 12:02 pm
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It appears Boisson’s buzz has finally worn off.
The nonalcoholic beverage retailer has filed for Chapter 11 bankruptcy and closed all eight of its brick-and-mortar stores. The news was first reported by Brewbound on Friday and later confirmed by Boisson founder Nicholas Bodkins via LinkedIn.
The Chapter 11 filing is a stunning turn of events for a company that appeared thriving less than a year ago. Boisson has already shuttered its five retail locations in Manhattan and Brooklyn, along with its San Francisco, Los Angeles and Miami outposts.
Although disappointed by the decision, Bodkins noted in his statement that the bankruptcy filing and closures will allow the New York City-based Boisson to focus on its wholesale and e-commerce operations, which Bodkins said will continue without interruption.
Bodkins argued that the steps taken by Boisson to cut costs shouldn’t reflect on the nonalcoholic beverage industry in general.
“No one should consider this anything other than what it is: a failed venture-backed startup that grew too quickly, made mistakes, and wasn’t able to find capital fast enough to continue to build three businesses at the same time — bricks-and-mortar retail, e-commerce, and wholesale import/distribution — which in hindsight proved to be impossibly hard to execute,” Bodkins wrote.
Boisson did not immediately respond to a request for further comment.
Founded in 2021 on a wave of interest in nonalcoholic beverages in the midst of the COVID-19 pandemic, Boisson quickly became the largest nonalcoholic retailer in New York. It later took its booze-free wares to California and Southern Florida.
Although just a drop in the bucket in the nearly half-a-trillion-dollar U.S. alcohol market, experts expect the nonalcoholic market to continue growing exponentially within the next decade, especially as major breweries such as Anheuser-Busch and Heineken continue expanding their alcohol-free offerings.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
