The bankruptcy of the World of Beer chain is bringing more uncertainty to the restaurant scene in The Villages.
World of Beer Bar & Kitchen, which is based in Tampa, has filed for Chapter 11 bankruptcy protection. The company reported assets of $10 million to $50 million, liabilities of $10 million to $50 million, and 49 or fewer creditors.
The World of Beer restaurant remains open at Brownwood Paddock Square. World of Beer closed its restaurant earlier this year at Spanish Springs Town Square.
When World of Beer opened in 2015 in the former AM-640 WVLG radio studio at Spanish Springs, it marked the 30th World of Beer location in Florida. World of Beer had opened in Brownwood in 2013. Those were heady times.
However, World of Beer said in a press release that the company’s bankruptcy is a result of “growing market pressures, including rising interest rates, inflation, increased operating costs and a slow return to pre-pandemic dining habits by consumers.”
The company was founded in 2007.
It’s difficult to predict what will happen next for the remaining World of Beer restaurant in The Villages.
When Red Lobster declared bankruptcy, the restaurant at Buffalo Ridge Plaza in The Villages hung for several months but closed its doors in July.
