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An influential participant within the specialty espresso scene of Colorado Springs, Colorado, filed for Chapter 11 chapter earlier this month.

Switchback Espresso Roasters, which was based in 2010, filed the petition in a U.S. Chapter Court docket on August 19. As of this writing, each of the espresso firm’s cafes, Shooks Run and Hillside, have been open for enterprise.

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

Submitting as a small enterprise in the hunt for Subchapter V protections — which may simplify and expedite small enterprise Chapter 11 filings — the corporate listed the estimated variety of collectors as lower than 50.

Among the many claims listed is an almost $400,000 Small Enterprise Administration mortgage secured in 2021, and separate claims from the Metropolis 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 profitable.

DelGrosso and a buddy based Switchback Espresso Roasters in a storage in 2010 earlier than rising the enterprise to incorporate a number of cafes and a devoted manufacturing roastery. The corporate has helped propel the area’s espresso trade over the previous decade, with quite a few Switchback staff 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 Chapter 11 protections in latest months. These companies embrace California-based inexperienced espresso manufacturing firm Frinj Espresso, fellow Colorado-based espresso roaster and retailer Ink! Espresso and South Dakota-based specialty purveyor Cottonwood Espresso. In December 2023, inexperienced espresso dealer Mercon Espresso Group filed for Chapter 11 chapter. The Mercon Specialty enterprise was subsequently acquired by StoneX.

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