The oldest craft brewer in the United States is being forced to close its business amid the poor economic conditions under President Joe Biden.

Anchor Brewing Company, founded in 1896, said in a statement this week that the inflation that has skyrocketed under the current administration was part of what left it “with no option but to make this sad decision to cease operations,” according to The New York Times.

The company, which has faced a decline in sales for the better part of a decade, also cited a highly competitive market, the pandemic, and being located in San Francisco.

Sam Singer, a spokesman for the company, said that the pandemic did significant damage to the company because the majority of its sales came from restaurants and bars, which were closed in many areas across the country.

“The bottom line is that Anchor ran out of money, and it ran out of time,” he said.

The company gave employees two months notice that it was shutting down and said it would dole out severance packages.

The company was started by German pioneer Gottlieb Brekle, who settled in San Franciso during the Gold Rush, Axios reported. The company struggled for a while after the massive earthquake that hit San Francisco in 1906.

“San Francisco’s flag is a phoenix rising from the ashes, and Anchor has had many phoenix moments in its history,” Singer added. “But that’s out of our hands now. We can only hope for the best.”

President Joe Biden ignited a firestorm this week after a bizarre video of him emerged this week where he nibbled on a small child who appeared to not like the interaction.

The video of Biden came from Helsinki, Finland, and showed what happened when he approached a woman carrying a small child.

Biden put his face in the girl’s shoulder and nibbled on her for several seconds, causing the girl to turn away from the 80-year-old.

Biden then attempted to kiss the girl on the head and she turned her head and again moved away from Biden.

WATCH:

During his departure from Finland, President Joe Biden bizarrely sniffed and bit at the shoulder of a frightened little girl. pic.twitter.com/Lx23QeGmfD

— Conservative War Machine (@WarMachineRR) July 14, 2023

The video generated widespread disgust online from many who noted that Biden has a long history of this type of behavior.

“This has got to be Biden’s creepiest moment yet with a child,” said digital media strategist Caleb Hull. “All Biden has to do is not do this and he can’t.”

Radio host Jesse Kelly tweeted, “Dude can’t help himself when he sees a little girl. Like a kid on Christmas morning.”

Australian political commentator Rita Panahi tweeted, “Creepy AF & Biden has a long history of inappropriate touching, kissing, sniffing & whatever the hell this is …”

“What the F**K is wrong with this man?” tweeted Red State editor Ben Kew.

“I’m sorry,” said media analyst Joe Concha. “Normal people don’t do this with children …”

Mediaite noted that the clip sparked lots of commentary on cable news channels, including on Fox News, where host Jesse Watters said, “Here’s the president nibbling at a terrified baby in Finland. It’s not presidential. It’s weird.”

“The only time men do that is with their own children at home, maybe – not with strange babies in the middle of Europe with cameras rolling,” Watters added. “He’s nuzzling and sniffing random kids. Joe showed more affection to this young Finnish girl than to his own granddaughter in Arkansas.”