Fort Collins doughnut maker featured on Shark Tank declares bankruptcy

FORT COLLINS — The Dough Bar LLC, a Fort Collins-based snack-delivery service and bakery that does business as The Doughnut Club, has filed for Chapter 11 bankruptcy protection.

The firm, which sells protein-rich, baked — not fried — doughnuts via its website and operates out of a Riverside Avenue storefront, was launched in 2015 in California by Marquez and Ondrea Fernandez.

The couple, who was featured on a 2018 episode of ABC’s “Shark Tank,” moved the business to Fort Collins this year. 

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Ondrea and Marquez Fernandez received a $300,000 investment from the television show’s Barbara Corcoran.

“The intent is definitely to continue operating the business, restructure and reorganize our debt, so that we can move forward with success,” Ondrea Fernandez told BizWest in an email Wednesday. “The move from the Bay Area to Colorado hit us a little harder than expected, so this is a strategic move for us. We definitely plan to be around for a long time.”

The Dough Bar has nearly $600,000 in assets and nearly $775,000 in liabilities, according to court documents filed earlier this week in U.S. Bankruptcy Court in Denver. 

According to that filing, the firm generated more than $830,000 in revenues in 2019 and more than $2.1 million last year.

The firm is represented in the bankruptcy case by Fort Collins attorney Owen Hathaway, who will be paid $6,100 for legal services, bankruptcy documents show.