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Craft brewers continue struggle in marketplace

Craft brewers continue struggle in marketplace
Posted at 6:33 AM, Oct 03, 2018
and last updated 2018-10-03 07:33:30-04

KANSAS CITY, Mo. – The seemingly endless variety and number of brands to choose from in your local beer case might be getting smaller.

Earlier this summer, Manhattan, Kansas-based Tallgrass Brewing announced it was closing down after failing to secure financing.

On Tuesday, Lagunitas Brewing Company, based in California and one of the most well-known craft brewers, announced it was cutting 12 percent of its workforce.

“The craft beer market is rapidly evolving and, in many ways, more challenging,” Lagunitas CEO Maria Stripp said in a statement.

The changing marketplace continues a trend of lower profits and restructuring among local and national brewers.