Beverage brands tend to last forever or disappear quickly.
Coca-Cola was first sold in 1886. Pepsi came along a few years later, in 1893, although it was not called by that name at first.
“In the small town of New Bern, North Carolina, local pharmacist Caleb Bradham invented the original formula for what would become Pepsi-Cola. Initially called 'Brad's Drink,' this popular beverage was made from a mixture of sugar, water, caramel, lemon oil, cola nuts, nutmeg and other additives,” according to a PepsiCo website.
Related: Restaurant chain closes more locations in Chapter 11 bankruptcy
Both products have changed their formulas over the years, but the brands endure.
Of course, there have been some famous failures in the soft drink sector, too. Virgin Cola, an attempt by Richard Branson to compete with Pepsi and Coca-Cola, stopped production in 2007. Jolt Cola, an attempt to create a highly caffeinated rival to the Big Two, ended in 2011 (though it has been revived several times).
In the coffee industry, most of the major brands have a long history. Chock Full O' Nuts was introduced in 1932, while Folgers was founded in 1850 and Maxwell House falls in between, having been introduced in 1892.
However, one coffee brand has a past almost as long as Folgers, but its future has become very murky.
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The 1853 coffee brand faces a difficult future
Mercon Coffee may not have the name recognition of Maxwell House, Folgers or Chock Full O'Nuts, but it has a deep history.
“It all began with love. The year was 1853 and Moisés Baltodano had just graduated from the University of Pennsylvania as a doctor,” the company said on its website. “Although the United States held a bright future for the young man, he returned to his native Nicaragua, where the only woman he would ever love was waiting for him.”
Baltodano worked as a doctor and offered his services to his community, so he had to find another way to make a living.
“He still had to support his wife and family, which led him to buy his first coffee farm as a way to make a living. It was then, almost 170 years ago, that coffee began to permeate the Baltodano blood, becoming a passion that would be passed down from generation to generation,” according to the company.
The company, which operates under several names, has gone through many iterations as it expanded around the world. It now describes itself as a global green coffee supplier “with the purpose of building a better world for coffee.”
Mercon Coffee filed for Chapter 11 bankruptcy in December and, after some hiccups, its plan has been approved by the U.S. Bankruptcy Court for the Southern District of New York.
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Mercon's Chapter 11 bankruptcy ends with liquidation
Mercon's bankruptcy liquidation plan faced opposition from the U.S. Trustee's Office, which is opposing provisions that released potential claims against 19 company insiders.
“A New York bankruptcy judge has upheld Mercon Coffee Corp.'s liquidation plan, ruling against rewarding insiders with a discharge from litigation for persevering in the Chapter 11 case.” WMTXLaw reported.
That decision by Judge Michael Wiles paved the way for Mercon to liquidate its remaining assets in Nicaragua, Brazil and Vietnam.
More bankruptcies:
- Tinker Toy, maker of Tonka toys, files for Chapter 11 bankruptcy
- Another coffee and coffee shop company files for Chapter 11 bankruptcy
- Struggling home goods retailer plans to file for Chapter 11 bankruptcy
“Mercon, along with ten affiliates, filed for Chapter 11 in December, citing $363.3 million in debt due to Covid-19 disruptions, inflation and a nine-year low in coffee futures,” the website added.
It remains to be seen who will ultimately own the Mercon name and its long-standing claims.
