Reed’s ( (REED) ) just unveiled an update.
Reed’s, Inc., a leading ginger beverage producer, reported a challenging third quarter in 2024 with net sales dropping to $6.8 million from $11.9 million the previous year, impacted by credit and inventory issues. Despite financial hurdles, Reed’s secured a $10 million credit facility and restructured secured notes through its majority stockholder, aiming to enhance liquidity and inventory levels. The company is optimistic about leveraging these strategic moves to overcome production challenges and drive future growth.
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