Summit Brewing Company facing foreclosure notice

A St. Paul, Minnesota, brewing company is facing a foreclosure notice from its lender, which claims the company owes at least $8 million. 

According to the documents filed in Ramsey County on Thursday, Summit Brewing Company took out two loans from BMO Bank at the end of 2024 totaling $8.125 million. The company defaulted on a loan in December 2025 and entered a forbearance period ending on July 31, 2026.

On June 15, 2026, Summit informed the bank that it "would not have sufficient liquidity" to pay at the end of the forbearance period. Since then, the documents say Summit has failed to pay back any amount demanded by the bank.

Including interest and legal fees, the bank says Summit owes at least $8,220,742.10 as of the end of August.

The complaint also asks the court to appoint a general receiver who can manage and operate Summit's property. 

Company officials said that they've navigated a "sustained period of financial pressure driven by industry-wide volume declines, rising costs, and a challenging capital environment for breweries of all sizes nationally."

According to officials, Summit's board of directors and managers spoke with outside advisors over the last year about possible refinancing arrangements, "strategic transactions" and restructuring efforts, but BMO and the company weren't able to reach a resolution.

"We're incredibly proud of this team and everything they've put into this business, and we intend to continue evaluating every option available to us as this process moves forward," Brandon Bland, president and CEO of Summit Brewing Company, said in a written statement.

Summit, founded in 1986, has been a central part of Minnesota's craft beer industry and is known for its Extra Pale Ale.