Fate Brewing Co. files bankruptcy

LOUISVILLE — Fate Restaurants LLC, which does business as Fate Brewing Co. in Boulder, has voluntarily filed for Chapter 11 bankruptcy protection.

The bankruptcy was filed on Nov. 1 by Fate’s attorney, Jeffrey Weinman. The case was assigned to Judge Thomas B. McNamara.  

The Boulder-based brewery has several creditors, including Aramark, Can Source, the city of Boulder, Colorado Department of Revenue, the Internal Revenue Service and the Securities and Exchange Commission. In its petition, Fate stated that it has 50 to 99 creditors. Its estimated assets and liabilities are both between $1 million and $10 million.

Fate’s owes more than $4.2 million to its creditors with the 20 largest unsecured claims. Those claimants are:

• 1600 38th St. LLC, claiming $110,000.
• 1650 38th St. LLC, claiming $20,981.76.
• Bank of America, claiming $31,581.03.
• Breakaway Business Center, claiming $62,650.
• Broadway Advance, claiming $80,000.
• BSP, claiming $22,367.
• Chase, claiming $27,718.17.
• Colorado Department of Labor and Enforcement, claiming $48,686.95.
• Crosby Farms, claiming $57,114.20.
• Guaranty Bank and Trust, which provided a line of credit and is claiming $99,569.24.
• Hollingsberry & Son Inc., claiming $18,486.27.
• Keg Logistics, claiming $32,950,48.
• Kevin Kinyon, claiming $121,000.
• Pivotal Payments, claiming $20,000.
• Proximity Malt LLC, claiming $19,389.50.
• Dawn Ritchinson, who provided loans and is claiming $29,632.
• Seabass LLC, claiming $100,000.
• Shamrock Foods, a vendor, claiming $153,000.
• Sysco, claiming $21,056.60.
• Xcel Energy, claiming $14,161.89.

Fate also has several security holders, including owner Mike Lewinski, who holds a 40 percent interest; Kalaloo LLC, which holds 10 percent; Branks LLC, which holds 10 percent; and Collabeeration LLC, which holds 9 percent. There are about 13 equity security holders total.

There are several unpaid Colorado tax trust funds and liens that Fate has as well, according to the Colorado Department of Revenue. The amounts are to be filed at a later date.

on Facebook on LinkedIn