Is Bud Light filing for bankruptcy? Viral tweet debunked

April 27, 2024

A claim stating Anheuser-Busch's famed beer, Bud Light, is filing for bankruptcy has been making rounds on the internet. The controversial brand has been under severe scrutiny ever since it partnered with trans actress and activist Dylan Mulvaney to promote the beer. On June 27, a Twitter user named Matt Wallace shared a tweet making the bold claim but did not back it up with facts.

Wallace's tweet soon gained traction, with 9,532 likes and over 800 retweets as of this writing.

However, the second portion of the tweet makes it obvious that the remark made in the first half is simply hypothetical, and it may imply the rising outrage at the company's continuous support of the LGBTQ community.

Even though the beer company's stock price dropped quickly and the beer company's sales have been down compared to the same time last year, there's no sign that the business has been destroyed. In an email sent to news outlet The Berkshire Eagle, Harry Schuhmacher, who works with Beer Business Daily said:

“Not only is it not going bankrupt, the lost sales of Bud Light are nearly negligible in relation to its global sales, at least so far.”

So, the viral tweet about Anheuser-Busch's famed beer filing for bankruptcy has no evidence to back it up, and Matt Wallace's post contradicts itself. It is not known why the user made such a statement.

Bud Light's marketing exec says the controversy surrounding the beer brand is a reminder to be humble

In a conference that happened on June 19, Bud Light's parent company Anheuser-Busch's top marketing executive, Marcel Marcondes commented on how the company's partnership with Dylan Mulvaney has cost the brand its reputation for being America's most selling alcoholic beverage.

“When things get divisive and controversial so easily, I think it’s an important wake-up call to all of us marketers to be very humble."

Speaking at the Cannes Lions International Festival of Creativity, Marcondes continued:

“It’s tough to see all the controversial and divisive debates happening in the US the last couple of weeks involving lots of brands and companies, including, especially, Bud Light.”

He added that the brands should be open to understanding their customers and learning from their mistakes in a situation like this. Keeping a positive approach, the exec said that beer brand will go around the country to bond with its customers.

“It’s coming back."

The controversy surrounding the beer company began in April 2023 when the brand sent customized beer cans to trans actress Dylan Mulvaney to celebrate her 365 days of womanhood. The move did not sit right with many people, especially conservatives, who made boycott calls against the brand.

Singer Kid Rock shared a video on his Instagram handle where he can be seen shooting a line of cans placed on a table. He was followed by country singer Travis Tritt who also boycotted the brand from his tour's hospitality. LGBTQ+ advocates were offended by the company's bland response, and the incident became ground zero in America's culture conflicts.

In May 2023, the Mexican lager Modelo Especial surpassed the American brand Bud Light as the best-selling beer in the country. Bud Light had held this title for more than 20 years. NIQ statistics given to the consulting company Bump Williams show that Bud Light sales fell 24 percent in the four weeks ending June 3.

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