Bootie Beer Corp., a Florida company that turned to a Wisconsin brewer to produce its suggestively named beverage, has been getting its posterior kicked.
City Brewing produced Bootie Beer under contract for a Florida company, but hasn’t for more than a year (and apparently nobody else has either). This isn’t about City Brewing, but about the non-brewing marketing company called Bootie. Although Bootie’s flashy website wouldn’t make you think so, the company lost $6.6 million in 2006.
In February, Bootie Beer Co. announced that it had entered into an investment banking agreement with Orlando-based KMA Capital Partners Inc. to raise up to $25 million for Bootie. But KMA spokesman Jack Craig told the Journal that KMA’s involvement with Bootie ended.
There’s a chance the Bootie may survive this. Investment firms holding notes that can be converted into Bootie stock have claimed that Bootie defaulted and hope to take over the company.
So I’ll let you draw your own conclusions about what the future might bring. I’m taking the optimistic view and thinking, “Bootie Beer: RIP.”