Loveland’s Front Range Gun Club files for Chapter 11 bankruptcy

LOVELAND — Front Range Gun Club has filed for Chapter 11 bankruptcy, weeks after its bank began a foreclosure in May.

In filings with the Bankruptcy Court of Colorado Friday, the shooting range at 697 N. Denver Ave., Suite 128, declared $3.51 million in assets against $3.58 million in liabilities under its registered name Happy Beavers LLC.

The club remained open through mid-March to mid-April as gun shops were classified as essential retailers by the state but closed completely to visitors from April 14 to April 25, according to various Facebook statuses on its page.

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Great Western Bank, the club’s bank, filed a notice of demand in late May claiming it is still owed just more than $3.28 million on top of a $3.6 million loan taken out in April 2017. The club has until Sept. 8 to notify the bank that it will become current on its debt.

Notably, the club listed disputes valued at $1 million between it and Edward and Steven Klen of Diverse Construction Inc., listing “fraud and misrepresentation by omission” as its reasoning. The two brothers are secured creditors to the club, with $304,643 listed in the filing.

No lawsuits have been filed in state or federal court against them as of Monday morning. Edward Klen and Gerald Jorgenson, the attorney representing Front Range, did not return requests for comment Monday morning.

Businesses filing for Chapter 11 bankruptcies generally seek to halt payments to their creditors for a period of time so they can reorganize debts and emerge as healthier companies. This is opposed to a Chapter 7 bankruptcy, where the business stops operating and liquidates its assets to pay off creditors.

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