A problem is brewing in the beer industry: Kegs are going stale [MSN Money]
Diageo plc (DEO)
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Source: MSN Money
© Michael Short/Bloomberg Millions of gallons of beer stuck in stadiums, concert halls, rtaurants and bars are fast going stale, leaving the beer industry with a tricky problem: What to do with all that booze nobody will ever drink?The coronavirus pandemic forced U.S. bars to close ahead of two of the country’s biggt drinking occasions: St Patrick’s Day and the “March Madns” basketball tournamt. Beer intded for those evts is now spoiling in locked tablishmts, and brewers are trying to get it back so kegs can be refilled before lockdowns lift. Executiv say draft beer typically stays frh for betwe two and six months.“This was the absolute worst time for this to happ for draft beer,” said Craig Purser, chief executive of the National Beer Wholalers Association, a trade body. “We have never ever se an interruption like this where everything freez in place.”Load ErrorMany industri are wrtling with similar dilemmas about what to do with their excs supply while the global economy reced and a
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- DEO's page on the SEC website