City Brewing Mulls Lender Takeover in Restructuring (1)

City Brewing Co., which makes alcoholic drinks such as White Claw and Pabst Blue Ribbon, is talking to creditors about inking an out-of-court restructuring with lenders taking control of the company, according to people with knowledge of the matter.

Negotiations are ongoing and no final decision has been made, said the people, who asked not to be identified discussing a private matter.

Discussions with creditors ramped up late last year, as City Brewing, whose investors include Charlesbank Capital Partners and Oaktree Capital Management, looked to shore up its cash reserves amid weakening demand, Bloomberg previously reported.

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