TermScout files Chapter 7 bankruptcy

BROOMFIELD — TermScout Inc., which does business as SaleScout Data Solutions, has filed for bankruptcy.

The Broomfield-based sales and marketing firm is filing for Chapter 7 liquidation, according to a filing submitted to the U.S. Bankruptcy Court District of Colorado.

The company estimates that it has between 50 and 99 creditors, with assets between $0 and $50,000 and liabilities between $100,001 and $500,000. Specifically, TermScout calculated its assets, in the form of property, at $33,896 and its total liabilities at $383,091.

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The biggest creditor is CEO Chris Lynde himself, who is listed as a priority unsecured claim of $21,500.

Large claims include more than $53,000 owed to Ascentium Capital LLC, due to deficiency on a commercial lease for furniture. Kendall, Koenig & Oelsner PC is owed $37,895 for trade/ business debt, as is McEldorado Ridge LLC for more than $45,000.

For the calendar year of 2018, TermScout had gross revenue of more than $1.48 million. In 2017, the company had gross revenue of more than $1.38 million.

A representative of the company did not return a request for more information by the time of publication.

In August, TermScout raised $250,000 in capital, as part of a $2 million raise. Earlier that year, it moved its headquarters from Louisville to Broomfield, almost doubling its size to 5,900 square feet.

“Our new location provides the space we need to continue expansion of the team and our development of high-performance products that fuel pipeline growth and sales acceleration,” Lynde said at the time.

A spokesperson for the company said at the time of the expansion that SaleScout grew by 20 percent in each of the final six months of 2017. The company also planned to double its workforce in 2018.

SaleScout was founded in 2014 as TermScout Inc. The company’s mission is to provide accurate business-to-business leads.

At time of publication, the company’s website appeared to be suspended.