North Austin’s 4th Tap Brewing Co-Op Files for Chapter 7 Bankruptcy

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The brewery hosts the popular Party World Rasslin’ event.

AUSTIN, TX — North Austin Brewery 4th Tap Brewing Cooperative filed for Chapter 7 bankruptcy, according to court documents obtained by KVUE on Tuesday. Bankruptcy papers were filed on July 20.

Under Texas law, in the event of a Chapter 7 bankruptcy, a company can attempt to erase its debts by liquidating assets that are not exempt.

According to a report from Austin Business Journal (ABJ), 4th Tap co-owner John Stecker estimated the company had about $500,000 in total assets, with much of its debt internal. Meanwhile, the document notes less than $50,000 in estimated assets versus $1 million to $10 million in liabilities.

Stecker also told the ABJ that the Metric Boulevard brewery will be closed and it’s unclear if it will reopen to sell inventory.

RELATED: Party World Rasslin’ is back after a two-year hiatus

Social media posts this week on Facebook indicated that the brewery would still be open on Tuesday. However, the brewery posted on its instagram history afternoon that it would not open its doors.

According to its website, 4th Tap opened to the public in 2015 under the direction of a group of friends from Austin, Houston, San Antonio and Corpus Christi with the goal of bringing the North Austin community together “to share the 4th Tap’s love of beer, food, music and art. Sometimes wrestling too.”

The brewery, which hosts food trucks and other weekly events, also hosts the popular Party World Rasslin wrestling party.

In a statement, 4th Tap called the news “absolutely heartbreaking.”

“We hope to open the doors soon, but we don’t have a deadline,” co-founder John Stecker told KVUE.

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