Boulder solar installer files for Chapter 7 bankruptcy
BOULDER — A Boulder-based installer of solar panels is planning to liquidate itself.
Rack-Em-Up Inc. filed for Chapter 7 bankruptcy in federal court Wednesday afternoon. The company listed $344 in cash and $35,000 in accounts receivable as assets, and $238,414 in unsecured liabilities to 18 creditors, according to the filing.
The company reported revenues of $485,000 in 2018 and $1,670 last year.
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According to its website, Rack-Em-Up specialized in installing ground-based solar panels, along with engineering for other small-grid renewable energy systems. CEO Davide Picard is also the owner of Zero Energy Aviation LLC, which completed one of a three-part ongoing hangar construction project at the Boulder Municipal Airport. Zero Energy Aviation is listed as the largest creditor in the filing by value with a $32,494 claim.
Picard did not respond to a request for comment Wednesday afternoon.
