Fort Collins Coffee Roaster Files for Chapter 11 BK | BizWest

Purple Peony Inc., the Fort Collins-based coffee roaster, filed for Chapter 11 bankruptcy protection due to 2023 revenues dropping immensely. The company cited assets of $877, 127.88 in October and liabilities of $2.75 million. Stephanie and Christopher Mecklenburg are the owners and have unknown amounts of unsecured liabilities, including sales taxes owed. Additionally, they owe payroll taxes to the state and federal government as well as property taxes owed to Larimer County. Moreover, the filing listed $14,854 in business credit card debt.

At one time the company was purchased from Jackie Harris and formerly operated as Jackie’s Java, and the note on the purchase was paid off within the past year. A status conference is set in December in the U.S. Bankruptcy Court in Denver to discuss a reorganization plan.

“Gross revenue as reported in the company’s statement of financial affairs was shown to be $601,454 from Jan. 1 until the filing date this year. In 2022, gross revenue was $1.175 million and the year before that, it was $1.089 million.”

Source: Fort Collins Coffee Roaster Files for Chapter 11 BK

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