The troubled Uncle Nearest Tennessee Whiskey brand has reportedly found a buyer. That buyer has not been identified.

According to The Spirits Business, the court-appointed receiver, Phillip Young, has entered into a letter of intent to sell the American whiskey business’ assets. These assets include the Uncle Nearest brand and the Nearest Green Distillery in Shelbyville, Tenn. 

Accused of defaulting on more than $100 million in loans, the brand, which was founded and owned by Fawn Weaver, was sued by its lender, Farm Credit America, last August. 

Weaver attempted to end the receivership, but a court ruled against her last week, saying the brand had been losing well over $100,000 per month under her direction, per The Spirits Business.

The prospective buyer asked to remain anonymous, but The Spirits Business reported that it is “an investment firm with an African-American ownership and leadership structure.” The buyer has reportedly pledged to honor the brand’s “cultural significance” and to retain its employees.

Launched in 2017, Uncle Nearest Premium Whiskey was named for the world’s first-known African American master distiller, Nearest Green. It was the pioneer spirits brand to bear the name of a Black American. 

Read more: Uncle Nearest Releases 2025 Master Blend Edition