BAL Bloodbath, page-29

And the problem with channel stuffing a product with a shelf life is the retailers/distributors can't hold it indefinitely, they will need to sell at discounts before the product becomes considered "old stock" and loses more value.

This is probably why BAL have been discounting heavily, though they said it was for "promotional purposes" in their announcement. It looks like BAL has been doing as much "de-stocking" as their competitors.