KALAMAZOO, Mich. (WOOD) — The popular Arcadia Brewing Company in Kalamazoo appears to be in serious financial trouble, with documents showing it owes some $1.4 million to the bank.
According to documents 24 Hour News 8 obtained Wednesday, the craft brewery is facing bank foreclosure and owes thousands of dollars in taxes. If the problem isn’t resolved, its property could be sold at a public auction to the highest bidder as early as Dec. 20.
A public notice shows Arcadia owes $1,409,677.12 on its mortgage. That doesn’t include additional costs and expenses the bank incurred to recover the debt. Public records also show Arcadia owes more than $150,000 in taxes.
Founded in 1996 in Battle Creek, Arcadia opened its Kalamazoo pub and brewery in May of 2014.
“We’ve got a tremendous beer culture in Michigan,” Arcadia founder Tim Suprise told 24 Hour News 8 at the groundbreaking ceremony in 2012. “It’s just a great time for us to be putting this signature project here in Kalamazoo.”