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Expert: Fire means millions for Jim Beam

45,000 barrels were destroyed
Posted at 2:14 PM, Jul 04, 2019
and last updated 2019-07-05 06:38:42-04

WOODFORD COUNTY, Ky (LEX 18) — The exact dollar amount of what was lost in the Jim Beam fire is still coming into focus.

Tom Fischer, a top bourbon journalist, educator, and founder of bourbonblog.com estimates that the losses could be upwards of $45 million...and he says that's at a minimum.

"It's sad. It's sad the whiskey won't make it to the market, but also sad for the people that made it, and really a sad sight to see happening in Kentucky," said Fischer.

45,000 barrels were destroyed in the Woodford County fire. Fischer says that the loss translates to around 13.5 million bottles of bourbon.

"There's no way that any of those barrels were worth less than a thousand dollars, in fact, I believe most were worth more than that," he said.

Beam's parent company says this will not affect the spirit's availability to customers.

"Because we're talking about Jim Beam, it's still a big hit, but they have three million, from what I understand, over three million barrels aging at one time," said Fischer.

Fischer also said that hopefully, a price increase on store shelves will not be an issue either.

You can earn more about Fischer here.