“Ink! Espresso, Aspen, CO” by danxoneil is licensed beneath CC BY 2.0. Photograph add date: 2015.

Lengthy-running espresso roasting and retail firm Ink! Espresso filed for Chapter 11 chapter in Colorado final week.

The voluntary Chapter 11 petition invokes Subchapter V of the USA Chapter Code, which is often utilized by small companies to hasten and streamline enterprise reorganizations.

Filed in Colorado Chapter Courtroom, the petition lists Ink! Espresso’s estimated liabilities between $1 to $10 million, with an estimated 50-99 collectors. Estimated property had been listed between $0 to $ 50,000.

The petition was notably filed on June 20, someday earlier than a provision within the CARES Act that reduces the quantity of liabilities qualifying for Subchapter V standing was scheduled to sundown.

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The CARES Act financial stimulus package deal quickly raised the debt restrict for companies looking for Subchapter V safety from $3,024,725 to $7.5 million. As of June 22, the edge has returned to $3,024,725.

Ink! Espresso has not replied to DCN’s request for remark.

The corporate, based by avid skier Keith Herbert in 1994, has operated espresso retail places in each the Aspen and Denver Markets. By the center of the final decade, the corporate had as many as 16 retail places, together with its Denver roastery within the RiNo neighborhood.

Quite a few Ink! Espresso places have just lately closed, though at the least 4 Denver-area outlets are confirmed opened as of this writing, together with a big just lately opened espresso kiosk contained in the Cherry Creek mall.

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