It is a truism that "Alcohol is recession-proof." While that may be accurate generally, there is no doubt that the Great Recession (generally perceived by economists and policy makers as beginning in December of 2007, and carrying on for anywhere from two to six years thereafter, depending on which experts are consulted) took a huge toll on the retail tier of the alcohol industry. On-premises retailers were hardest hit, with many long-standing restaurant chains ultimately going bankrupt.
Some would argue that the Great Recession remains with us in too many places across the country. While economic data from especially hard-hit localities may confirm that concern, the national outlook is beginning to reflect a new reality, i.e., that the Great Recession finally is receding.
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This article is published in the August 2014 issue of Fintech Focus. For more information, click here.
About the Author: Richard M. Blau leads GrayRobinson’s Alcohol Industry Team, focusing on the laws that govern the manufacture, importation, distribution, marketing, sale and consumption of beer, wine, distilled spirits and other licensed beverages.