October 1: Pioneer US energy drink Jolt looks likely to be a casualty of a halt in growth in the sector following a dispute with canmaker Rexam.
Jolt Co Inc, which trades as Wet Planet Beverages, has filed for Chapter 11 bankruptcy protection because it says it cannot use Rexam’s recloseable 23.5-oz Cap Cans.
In court filings, Rochester, NY-based Jolt said it had agreed to buy 90 million of the cans from Rexam between January 2007 and December 2009. But the company bought only 27m, and used conventional cans which are a third of the price.
