World of Beer has issued a statement regarding the future of its restaurant in The Villages.

Last week World of Beer Bar & Kitchen, based in Tampa, has filed for Chapter 11 bankruptcy.

A representative from World of Beer contacted Villages-News.com on Monday and said the latest filing is not expected to impact the Brownwood location.

The company’s top representative also provided insight into the insolvency application.

“This move is a strategic one to reposition our business, reduce debt and increase our financial flexibility. We are confident about our future, backed by a solid plan and a dedicated team committed to delivering exceptional dining experiences,” said Company President and CEO Paul Avery.

“This restructuring will put WOB Bar & Kitchen in a stronger position. Our focus remains on serving our loyal customers, supporting our employees and franchisees, and positioning our restaurants for continued growth and success in a competitive environment,” he said.

World of Beer opens in Brownwood in 2013The success of this location led to the opening of a second World of Beer in 2015 in former AM-640 WVLG radio studio in Spanish Springs. This place closed beginning of the year.

The company was founded in 2007.