JACKSONVILLE, Fla., Jan. 16, 2009 (GLOBE NEWSWIRE) -- Liquor Group Wholesale, Inc. (OTCBB:LIQR) posts first fiscal quarterly statements as a publicly traded company (September 1, 2008 - November 30, 2008), showing continued promise, profit and growth. Total sales for the period were down very slightly from the same period in 2007; however the decrease was entirely attributable to a delay by a few days of product shipments from suppliers. The arrival of those shipments on time would have more than doubled the sales figures from the prior year, however accounting rules dictate that the delay results in those proportionately higher sales being posted in the firm's fiscal second quarter.
Liquor Group Wholesale CEO, C. J. Eiras, stated that he was "...generally pleased with the quarterly results, particularly given the extreme financial turmoil throughout the nation." Liquor Group Wholesale has continued to receive media attention, with news stories on Beverage News Network as well as recent interviews of Eiras on CEOcast.net and interviews of VP Lowell Newman on FOX Business' Wall Street Network.
Liquor Group Wholesale's Innovative Distribution approach to the alcohol industry is a key element in the growth and development for many mid-sized and emerging brands. The Liquor Group patent pending business model is now finding success with larger, well known brands and is allowing the potential for continued expansion beyond their 31 State territories into additional states. Liquor Group's ideology and corporate culture offers alcohol brands the versatility and flexibility needed in order to both grow in sales and bandwidth, while meeting the compliance requirements unique to each state's laws and regulations.
About Liquor Group Wholesale
Liquor Group Wholesale Inc. is an emerging liquor and wine distribution company representing more than 1700 spirits and wine products with operations in 31 US States. Liquor Group Wholesale is publicly held and is traded under the symbol LIQR. More information available at www.SEC.gov or www.LiquorGroup.com
The Liquor Group Wholesale, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5642
Safe Harbor
Except for the historical information contained herein, the matters set forth in this press release, including the description of the company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.