Central European Distribution Corp., the Poland-based vodka bailed out by a Russian billionaire, is leaning on Sitrick and Company for communications counsel as it navigates Chapter 11 bankruptcy in the U.S.
CEDC, which includes vodka brands like Bols, Parliament, Royal and Zelyonaya Marka, filed for Ch. 11 protection in April with nearly $2B in assets against $1.7B in debts and received court approval for its reorganization plan on May 13. Russian billionaire Roustam Tariko, an insurance and vodka billionaire who rescued the company in 2012, gains full control of CEDC through his Roust Trading Ltd. under the deal, which takes CEDC private.
Sitrick New York-based firm member Thomas Mulligan is handling U.S. PR for the Warsaw-based company.
CEDC, which went public in 1998, said operations in Poland, Russia, Ukraine and Hungary are unaffected by the bankruptcy filing.
The New York Times delved into the U.S. bankruptcy filing of the Poland company in "The Curious Case of the European Vodka Seller" on May 23.
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