Legal & Courts  October 19, 2022

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…

Ken Amundson
Ken Amundson is managing editor of BizWest. He has lived in Loveland and reported on issues in the region since 1987. Prior to Colorado, he reported and edited for news organizations in Minnesota and Iowa. He's a parent of two and grandparent of four, all of whom make their homes on the Front Range. A news junkie at heart, he also enjoys competitive sports, especially the Rapids.
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