Jolt Cola’s parent company Wet Planet Beverages has filed for bankruptcy protection. The filing protects Wet Planet Beverages from Rexam, the makers of the Jolt Cola resealable can. Wet Planet Beverages has a business contract to purchase 90 million resealable cans between January 2007 and December 2009. So far, they have only purchased 27 million resealable cans. The resealable cans are supposedly 3 times the cost of a regular can and Wet Planet cites the economic recession as the main reason it cannot fulfill the business contract.
Rexam is owed $2.1 million and is Wet Planet Beverage’s largest creditor.
Is this going to be the end of Jolt Cola, or will a beverage company step in and purchase the brand? In a saturated energy drink market, it may not attract a lot of suitors. However, they may be enough interest out there to re-launch the beverage if the bankruptcy filing succeeds. So Jolt Cola addicts, go out and buy Jolt Cola while you still can!
BevWire 