Grace’s Goodness files Chapter 7 bankruptcy
BOULDER — A natural foods company in Boulder that just a year ago was poised to scale up has filed for Chapter 7 bankruptcy.
Grace’s Good Food LLC, which does business as Grace’s Goodness Organics, filed in bankruptcy court Tuesday.
The filing lists assets of $34,260 and liabilities of $1.01 million.
Grace Ventura founded Grace’s Goodness in 2016 with a product line called Beyond Broth. It brought on Sarah Bird as CEO in 2020, who expanded the line of products to include organic, plant-based sipping broths intended to be an alternative to tea or coffee.
As noted in a BizWest profile of Bird in 2021, the company touted the health benefits of its products, including helping with immunity, providing sources of vitamin C and A, serving as an anti-inflammatory and antioxidant.
The bankruptcy filing shows that revenue, starting in 2020, grew but then plummeted this year. In 2020, gross revenue was $404,059. In 2021, it was $501,663. But through the filing date this year, revenue was only $288,709.
Assets include mostly accounts receivable at $29,350. Liabilities include a $174,500 Small Business Administration loan.
Bird appears to have left the company midyear — at least she drew a salary until July 1, 2022. Bird was a minority shareholder with 5.15% of the company shares.
Ventura remains as the majority shareholder with 33.51% of the shares. The remainder of the shares are distributed among investors.
A call to Ventura’s attorney, Robertson Cohen, was not returned before BizWest’s publication deadline.
BOULDER — A natural foods company in Boulder that just a year ago was poised to scale up has filed for Chapter 7 bankruptcy.
Grace’s Good Food LLC, which does business as Grace’s Goodness Organics, filed in bankruptcy court Tuesday.
The filing lists assets of $34,260 and liabilities of $1.01 million.
Grace Ventura founded Grace’s Goodness in 2016 with a product line called Beyond Broth. It brought on Sarah Bird as CEO in 2020, who expanded the line of products to include organic, plant-based sipping broths intended to be an alternative to tea or coffee.
As noted in a BizWest…
Start your subscription to BizWest, The Business Journal of the Boulder Valley and Northern Colorado, TODAY!
Online access PLUS print versions of all Bizwest publications
One month subscription includes:
- 1-month online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-month subscription to BizWest & all of the publications in print version.
- 1-year access to daily email newsletter & breaking news alerts.
Online access for one year.
One month subscription includes:
- 1-month online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year access to daily email newsletter & breaking news alerts.
Online and print versions of all Bizwest publications PLUS premium access to BizWest Datastore for one year.
One year subscription includes:
- 1-year online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year subscription to BizWest & all of the publications in print version.
- 1-year premium online access to unlimited downloads from the BizWest Datastore!
- 1-year premium online access to the Breaking Ground website!
- 1-year access to daily email newsletter & breaking news alerts.
Premium access to the BreakingGround site plus online and print versions of all BizWest publications.
One year subscription includes:
- 1-year online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year subscription to BizWest & all of the publications in print version.
- 1-year premium online access to the Breaking Ground website!
- 1-year access to daily email newsletter & breaking news alerts.
Premium access to the BreakingGround site plus online and print versions of all BizWest publications.
One month subscription includes:
- 1-year premium online access to the Breaking Ground website!
- 1-month online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-month subscription to BizWest & all of the publications in print version.
- 1-year access to daily email newsletter & breaking news alerts.