Colorado Distinctiveness Espresso Corporate Information for Bankruptcy 11 BankruptcyDaily Espresso Information by way of Roast Mag

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An influential participant within the uniqueness espresso scene of Colorado Springs, Colorado, filed for Bankruptcy 11 chapter previous this month.

Switchback Espresso Roasters, which used to be based in 2010, filed the petition in a U.S. Chapter Courtroom on August 19. As of this writing, either one of the espresso corporate’s cafes, Shooks Run and Hillside, have been open for industry.

Within the chapter petition, Switchback indexed estimated liabilities between $500,001 and $1 million, with estimated property of $50,001-$100,000.

Submitting as a small industry searching for Subchapter V protections — which will simplify and expedite small industry Bankruptcy 11 filings — the corporate indexed the estimated collection of collectors as lower than 50.

Some of the claims indexed is a just about $400,000 Small Industry Management mortgage secured in 2021, and separate claims from the Town of Colorado Springs and the Colorado Division of Income for unpaid gross sales taxes totaling greater than $76,000.

DCN’s makes an attempt to succeed in Switchback Espresso Roasters Proprietor and President Brandon DelGrosso weren’t a hit.

DelGrosso and a chum based Switchback Espresso Roasters in a storage in 2010 earlier than rising the industry to incorporate a couple of cafes and a devoted manufacturing roastery. The corporate has helped propel the area’s espresso business during the last decade, with a lot of Switchback workers medaling at barista competitions and/or launching their very own espresso companies.

Switchback is the newest in a sequence of U.S. espresso companies to hunt Bankruptcy 11 protections in contemporary months. The ones companies come with California-based inexperienced espresso manufacturing corporate Frinj Espresso, fellow Colorado-based espresso roaster and store Ink! Espresso and South Dakota-based uniqueness purveyor Cottonwood Espresso. In December 2023, inexperienced espresso dealer Mercon Espresso Staff filed for Bankruptcy 11 chapter. The Mercon Distinctiveness industry used to be therefore got by way of StoneX.

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