Hop broker bankruptcy may signal industry turbulence

The bankruptcy of a Washington hop merchant may signal renewed turbulence in the hops market, with lower-than-expected demand for the crop raising oversupply concerns. 47 Hops of Yakima, Wash., has filed for Chapter 11 bankruptcy protection, which shields the company from creditors while it develops a restructuring plan to repay debts and remain operational.The hop broker has more than $7.4 million in debt and $4.3 million in assets, according to the filing. In 2016, the company earned $10.6 million in revenues, up from $7.1 million the previous year.