Uncle Nearest, the acclaimed Black-owned whiskey brand once valued at over $1 billion, has been placed under receivership after a federal judge ruled in favor of its lender, Farm Credit Mid-America.
The move follows allegations of a default on $108 million in loans, raising questions about the future of the company and the leadership role of its founder, Fawn Weaver.
According to court documents, a receiver will take control of the business to stabilize operations and protect creditors’ interests.
However, Weaver may remain involved in marketing and brand oversight to safeguard Uncle Nearest’s reputation during the transition. Both sides are expected to submit proposals for the receiver by Aug. 20, a deadline that has whiskey industry observers watching closely.
Despite the legal setback, Weaver is not backing down.
In a video message to supporters, she rejected claims that she no longer controls the company and rallied consumers to continue supporting Uncle Nearest at retailers nationwide.
“I built this company, I own this company, I run this company,” Weaver said, pointing out that her long-standing leadership team remains in place. “Strong leadership doesn’t panic. It keeps a steady hand and moves forward.”
Weaver also pointed to robust sales numbers across multiple states, highlighting double- and triple-digit growth despite broader declines in the spirits industry.
States including Illinois (+216%), Florida (+92%), South Carolina (+53%), and Alaska (+423%) have seen sharp sales increases, which she framed as proof of the brand’s resilience.
The self-proclaimed “People CEO,” underscored her philosophy of transparency in entrepreneurship, telling followers that Uncle Nearest’s challenges are not signs of collapse but part of the realities of ownership.
“All major challenges are inevitable in ownership. That’s why so many tap out,” she said.
For now, Uncle Nearest remains in a period of uncertainty as the receivership process unfolds.
But Weaver’s message to her supporters is clear: keep buying, keep supporting, and don’t believe the narrative that the brand has slipped out of her hands.
