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▶ Watch next: LIV Golf: How $5 Billion of Saudi Money Ended in Bankruptcy https://youtu.be/0ZGSMDn4vOA ▶ Related: What Happened to Poundland? Why the £1 Shop Could Collapse Now https://youtu.be/cvAtRh0e5No ▶ Related: How Getty Images Went From Owning the World's Photos to Zero https://youtu.be/GROtXC-Ne7I ▶ Playlist "Billion-Dollar Collapses": https://www.youtube.com/playlist?list=PLRWsZ6VBgfrA 🔔 A new story every day. Subscribe so you don't miss the next one: https://studio.youtube.com/channel/UCwXd3lGmH5Vq5dfava2yyKQ?sub_confirmation=1 On October 22, 2026, a bankruptcy judge in Houston cleared Republic National Distributing Company (RNDC) to sell its Michigan wine business, and on the same day the hearing on its liquidation plan was postponed with no new date. RNDC was once America's second-largest wine and spirits distributor, with roots going back to an 1898 beer license in Pensacola, Florida. Today it is being sold off state by state. This video sets two versions of the collapse side by side. In the company's version, falling demand and lost suppliers killed it. In the creditors' version, the owners' payouts and a proposed settlement are under scrutiny. We then check both against the court record and against what buyers actually paid for the pieces. This is business history storytelling, not investment advice. Sources: WOOD TV8 / Nexstar: Sale of RNDC's Michigan wine, spirits distribution operations clears hurdle Beverage Information Group: Sale Cleared for RNDC's MI Business Vinetur: Bankruptcy Judge Clears RNDC to Sell Its Michigan Wine Business to Three Distributors (Oct 27, 2026) Vinetur: Bankruptcy Court Postpones RNDC Liquidation Plan Hearing Without Setting a New Date (Oct 23, 2026) Vinetur: RNDC reaches settlement with unsecured creditors in Chapter 11 liquidation (Oct 27, 2026) Distribution Strategy Group: RNDC Bankruptcy Filing Details Industry Shifts, Supplier Losses Behind Collapse (Jul 29, 2026) Distribution Strategy Group: RNDC faces creditor deadline ahead of Oct. 22 bankruptcy hearing (Oct 14, 2026) Chapter11Cases: Republic National Distributing Company: The Last Two Weeks (Sep 7, 2026) Bondoro: Case Summary, Republic National Distributing Company Chapter 11 The Daily Pour via Yahoo Finance: RNDC, Once the Second Largest Alcohol Distributor In America, Files for Bankruptcy (Jul 28, 2026) The Drinks Business, Inc., Shanken News Daily, The Spirits Business, U.S. Bankruptcy Court S.D. Texas Chapters: 0:00 Intro 0:22 Sold by the State 3:09 The Company's Story 6:56 The Creditors' Story 10:37 What the Record Shows Sources: - WOOD TV8 (Nexstar): Sale of RNDC's Michigan wine, spirits distribution operations clears hurdle: https://www.woodtv.com/news/michigan/sale-of-rndcs-michigan-wine-spirits-distribution-operations-clears-hurdle/ - Beverage Information Group: Sale Cleared for RNDC's MI Business (Oct 26, 2026): https://bevinfogroup.com/2026/10/26/sale-cleared-for-rndcs-mi-business/ - Vinetur: Bankruptcy Judge Clears RNDC to Sell Its Michigan Wine Business to Three Distributors (Oct 27, 2026): https://www.vinetur.com/en/20261027109822/bankruptcy-judge-clears-rndc-to-sell-its-michigan-wine-business-to-three-distributors.html - Vinetur: Bankruptcy Court Postpones RNDC Liquidation Plan Hearing Without Setting a New Date (Oct 23, 2026), citing docket Nos. 692 and 697: https://www.vinetur.com/en/20261023109618/bankruptcy-court-postpones-rndc-liquidation-plan-hearing-without-setting-a-new-date.html - Vinetur: RNDC reaches settlement with unsecured creditors in Chapter 11 liquidation (Oct 27, 2026), citing BevNET: https://www.vinetur.com/en/20261027109841/rndc-reaches-settlement-with-unsecured-creditors-in-chapter-11-liquidation.html - Distribution Strategy Group: RNDC Bankruptcy Filing Details Industry Shifts, Supplier Losses Behind Collapse (Jul 29, 2026), summary of the first-day declaration: https://distributionstrategy.com/2026/07/rndc-bankruptcy-filing-details-industry-shifts-supplier-losses-behind-collapse/ - Distribution Strategy Group: RNDC faces creditor deadline ahead of Oct. 22 bankruptcy hearing (Oct 14, 2026): http://distributionstrategy.com/2026/10/rndc-faces-creditor-deadline-ahead-of-oct-22-bankruptcy-hearing/ - Chapter11Cases: Republic National Distributing Company: The Last Two Weeks (Sep 7, 2026), case No. 26-90737, Judge Christopher Lopez: https://chapter11cases.com/blogs/news/republic-national-distributing-company-the-last-two-weeks - Bondoro: Case Summary of the RNDC Chapter 11 filings (ownership, equity holder settlement, distributions, DIP, employees): https://bondoro.com/republic-national-distributing-company/ - The Daily Pour via Yahoo Finance: RNDC, Once the Second Largest Alcohol Distributor In America, Files for Bankruptcy (Jul 28, 2026): https://finance.yahoo.com/small-business/articles/rndc-once-second-largest-alcohol-160800705.html - The Drinks Business: RNDC court

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