Fort Collins Coffee Roaster Files for Chapter 11 Bankruptcy Protection

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Fort Collins-based coffee roaster Purple Peony Inc. has filed for Chapter 11 bankruptcy protection due to a drop in 2023 revenues. The company has assets of $877,127.88 and liabilities of $2.75 million, partially secured by its property at Summit View. The real estate is owned by Summit View Commercial LLC. Unknown amounts of unsecured liabilities include sales taxes, payroll taxes, and property taxes owed to Larimer County. The company, which was once known as Jackie’s Java, was purchased from Jackie Harris and paid off within the past year. The bankruptcy judge, Kimberly Tyson, has set a status conference for December 18 to discuss a reorganization plan. The deadline for proof of claims is Jan. 2, 2024.

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Source: Coffee Talk

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