It's where we're headed, isn't it? But as the article makes clear, the shakeout will create bargains for those who possessed the capital in the first place.
Paging Herr Marx ... Groucho, not Karl.
Craft Beer Is Booming, but Brewers See Crossroads, by Ian Mount (New York Times)
... “What’s interesting is you have a lot of entrants, with low barriers to entry, chasing a finite amount of growth,” he said. “The industry will do very well as a whole, but you have a lot of people who are doubling or tripling capacity and taking on debt to do it.”
Mr. Steinman of Beer Marketer’s Insights agrees.
“People have built out way in front,” he said. “They’ve made bets and not all will succeed. It’s pretty likely there will be some that won’t survive. And then there might be some capacity available for cents on the dollar.”
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