Fawn Weaver, the former leader of Uncle Nearest whiskey, has been removed from her post. The Tennessee Whiskey brand announced Weaver’s firing amid being $200 million in debt.
According to The Tennessean, the brand is currently maintained by a court-appointed receiver and is the subject of a lawsuit by Farm Credit Mid-America.
The receiver fired Weaver and her husband, Keith Weaver, who is a cofounder of Uncle Nearest. The termination was effective as of June 1. The filing states, “While the decision was not made lightly, it has resulted in significantly less confusion among employees and vendors, and has made business operation significantly smoother.”
A court-appointed receiver says the company is nearing a potential sale despite facing ongoing litigation, federal investigations, and challenges in the struggling spirits market. Recent progress includes the $2.59 million sale of its Martha’s Vineyard property, a prospective buyer for its French vineyards, and negotiations to sell its core business assets. The receiver also confirmed the company remains under investigation by the U.S. Attorney’s Office for the Southern District of New York and the SEC. Despite the setbacks, the receiver believes the brand can be revived under new ownership with fresh investment and stronger operational leadership.
