Jolt Cola, the 24 year-old product credited/blamed for creating the multi-billion dollar energy drink market, is going out of business.
Pittsford-based Jolt Co. Inc. now seems likely to close, according to an attorney for the company, after a contentious attempt at reorganizing fell apart earlier this week. “The name will show up someplace else, but just that,” said William I. Kohn, with the Cleveland firm of Benesch, Friedlander, Coplan & Aronoff. “I don’t see anybody buying the entire package.” Jolt filed for bankruptcy in late September in Rochester. In the Chapter 11 filing, CEO Robert Clamp indicated that the company’s woes revolved around a decline in the energy drink market coupled with a fight with Rexam Beverage Can Co. of Chicago over an agreement to buy 90 million high-end resealable cans.
I find all energy drinks foul tasting, but will admit buying quite a lot of Jolt the first summer it came out.