Nixa company linked to 4 by 4 Brewing Co. files for Chapter 11 bankruptcy

Brewtiful Properties LLC, a company that owns 4 by 4 Brewing Co. LLC’s Nixa brewery location at 9003 Sawgrass Ave., filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Eastern District of Missouri earlier this month, federal court records show.

A case filed under Chapter 11 of the United States Bankruptcy Code is frequently referred to as a reorganization bankruptcy, according to the website of the federal court system. A Chapter 11 debtor, which can be a business corporation, a partnership or an individual, proposes a restructuring plan to keep its business alive and make payments to creditors over time and may also seek debt relief in Chapter 11.

Along with the Nixa location of 4 by 4 Brewing in the Fremont Hills area that opened in 2023, the brewery has a Springfield location in the Galloway area that opened in 2017, according to past Springfield Business Journal coverage.

The bankruptcy filing shows Brewtiful Properties holds a lease with 28 months remaining for the building at Springfield’s 2811 E. Galloway St., occupied by 4 by 4 Brewing for business operations.

The move to file for bankruptcy protection for Nixa’s Brewtiful Properties comes slightly less than a month since Springfield’s 4 by 4 Brewing Co. LLC filed for bankruptcy in the Western District of Missouri, according to past SBJ coverage.

In a brief phone interview Monday, 4 by 4 Brewing co-owner Derek Shimeall said the latest voluntary petition for Chapter 11 bankruptcy pertains to the real estate side of the overall 4 by 4 Brewing venture and its bankruptcy protection process.

“It’s all in essence one,” Shimeall told SBJ, referencing the two bankruptcy petitions.

Shimeall said that a statement the 4 by 4 Brewing owners issued last month when 4 by 4 Brewing first sought Chapter 11 protections was also relevant to the Brewtiful Properties bankruptcy filing this month.

That statement read in part, “This restructuring is about strengthening our foundation, not ending it.”

4 by 4 Brewing owners also said last month that “the company emphasized that this is not a closure, and both of its taproom locations will remain open and operating as normal.”

The owners added, “Like many small breweries, we’ve faced significant financial headwinds in recent years. This restructuring allows us to realign our finances, strengthen operations and keep doing what we love serving our community and brewing great beer.”

Brewtiful Properties described its business as single-asset real estate in its voluntary petition filed Feb. 5 and noted that its affiliate, 4 by 4 Brewing Co. LLC, also has a pending bankruptcy case. The 4 by 4 Brewing Chapter 11 case was initiated Jan. 15, according to past SBJ reporting.

Brewtiful Properties reported $3.7 million in assets to federal court authorities. The company’s liabilities totaled just over $4.8 million, of which just roughly $114,000 were owed to unsecured creditors.

Creditors listed in the bankruptcy petition include the Christian County collector, for some $114,000 in real estate taxes due in 2024 and 2025.

Other major creditors include Arvest Bank, the U.S. Small Business Administration and SWMO Management LLC, for payments related to 9003 Sawgrass Ave., where the Nixa brewery is located, and an adjacent property at 9001 Sawgrass Ave. The brewery property was valued at $3.2 million, while the adjacent property was valued at $500,000, according to the petition.

The bankruptcy filing shows Brewtiful Properties owes nearly $2.5 million to Arvest Bank for two loans related to the Sawgrass Avenue properties, secured by $3.2 million in collateral.

The Small Business Administration Little Rock Commercial Loan Servicing center is owed just shy of $1.4 million in payments on the 9003 Sawgrass Ave. property, the Chapter 11 filing shows.

Brewtiful owes Poplar Bluff-based Southern Bank $387,000 toward payments on 9001 Sawgrass Ave., the property adjacent to the brewery location, the bankruptcy filing shows. It also owes $500,000 to SWMO Management LLC for payments related to both 9003 Sawgrass Ave. where the brewery is located, and the property next door at 9001 Sawgrass Ave.

4 by 4 Brewing and its co-owners Chris Shaffer, Shila Follis-Shaffer, Danielle Shimeall, Derek Shimeall, Justin Steenburgh, Stacy Steenburgh, Kelly Dobbs and Stephen Dobbs are listed as co-debtors.