Alcohol makers face a headache as billions worth of barrels pile up in warehouses

Producers of cognac, whisky and bourbon are facing a growing problem: barrels worth billions are accumulating in their warehouses.

A few years ago, manufacturers expected demand for more expensive alcohol to continue rising. They produced accordingly, building up stocks that have become difficult to sell.

Their customers have since begun drinking less and changing the way they drink. But spirits that must mature for several years cannot be brought into line with new consumer trends overnight.