Item 1A. Risk Factors
ITEM 1A. RISK FACTORS
Risk factors are described in “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2022. The following update, listed below, should be read in conjunction with the risk factors disclosed in our Form 10-K for the year ended December 31, 2022.
We may not realize the anticipated benefits from the announced planned closure of our Atchison, Kansas distillery.
On July 13, 2023, we announced the planned closure of our distillery located in Atchison, Kansas, with an anticipated closure date of January 2024, as part of our plan to address profitability headwinds associated with our white goods and industrial products within our Distilling Solutions segment. This closure and any other actions to address profitability headwinds could fail to achieve the anticipated results, could disrupt our business, and could have an adverse effect on our business, financial condition or results of operations. We cannot be sure that we will realize profitability improvements, gross margin improvements, or any other anticipated benefits from the closure of our Atchison, Kansas distillery or any other actions taken to address profitability headwinds. The Atchison, Kansas distillery closure, and its timing and effectiveness, is subject to assumptions, estimates, and other uncertainties, some of which are beyond our control. If these estimates and assumptions are incorrect, if we experience delays or unanticipated costs, or if other unanticipated events or unintended consequences occur, our business and financial results could be adversely affected and could differ materially from our expectations.
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