St. Paul's Summit Brewing Faces Foreclosure Lawsuit From Its Bank

ST. PAUL, MN — Summit Brewing Co., one of Minnesota's largest and most beloved craft breweries, could lose its riverside St. Paul complex after its lender filed suit seeking foreclosure and the appointment of a receiver to take over the company's assets.

BMO Bank filed the lawsuit Sept. 10 in Ramsey County District Court, alleging Summit owes more than $8.2 million on two loans issued in December 2024, a $6.88 million term loan and a $1.25 million revolving line of credit.

The debt is secured by a mortgage on Summit's property at 910 Montreal Circle along with the company's equipment and other assets, according to the complaint.

According to court filings first reported by the Minnesota Star Tribune, Summit defaulted on the loans in December 2025 and entered a forbearance agreement with BMO that gave the company until July 31, 2026, to repay while meeting a minimum profitability threshold.

In a June 15 letter to the bank, Summit said it would not have enough liquidity to make the payment and warned that its financial position continued to deteriorate. BMO dissolved the forbearance agreement in August and demanded repayment in full.

The lawsuit asks a judge to order the sale of Summit's property and appoint a general receiver who could take possession of and operate the brewery's assets. No court hearing has been scheduled.

In a statement, Summit President and CEO Brandon Bland said the company's board and management made substantial efforts over many months to chart a different course, including working with outside advisors on refinancing and other options, but could not reach a resolution with BMO.

He said the situation reflects the difficult capital environment the entire craft brewing industry is navigating rather than a reflection of the company's brand or operations, and said Summit will continue normal day to day operations while the case proceeds.

Founded in 1986, Summit is known for its Summit Extra Pale Ale among other brews, and has grown into one of Minnesota's largest breweries by sales volume, distributing across the country.