Feb 21, 2024 - Business

Brieux Carre to host fundraiser as COVID-era loans come due

A row of four beers are lined up on a narrow wooden tabletop. One of the beers has a horse logo, and the others say Brieux Carre.

Brieux Carre is located in the Marigny, just steps from Frenchman Street. Photo: Courtesy of Robert Bostick

A beloved, award-winning New Orleans brewery is hosting a fundraiser Saturday as the business grapples with COVID-era loans coming due.

Why it matters: Brieux Carre isn't alone in its struggles contending with high payments on loans that once served as the lifeline for small businesses across America.

What's happening: The brewery, which is in the Marigny just steps from Frenchman Street, will host Keep It Flowing Fest on Saturday with a pizza pop-up, a biodegradable glitter vendor and live music by Matt Wilson.

  • Plus, of course, expect pours of plenty of great beers.

The big picture: The alcohol industry is shifting as Gen Z eschews drinking and seltzers chip away at the market.

  • In other words, beer sales are down.
  • "Only the best of the best breweries are starting to see growth," Bostick says. "We're lucky. We have growth."

Yes, but: It's not quite enough in the face of rising costs.

  • The Brieux Carre team shared its struggle on social media earlier this year, posting a GoFundMe page with details on the difficulty they've had in refinancing their loans as raw materials prices increase.
  • That fundraiser has already raised over $15,000, which Brieux Carre founder Robert Bostick says is enough to feel optimistic.

What he's saying: "The idea is to keep being transparent with all our customers," Bostick tells Axios New Orleans, noting that, in total, the brewery needs about $100,000 to refinance the company's loans.

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