Colorado bankruptcy filings surge 35% in October

DENVER — Colorado bankruptcy filings surged 35% in October compared with the same period a year ago, the largest year-over-year increase of 2023.

October filings increased in Boulder, Larimer and Weld counties but were down in Broomfield County. That’s according to a BizWest analysis of U.S. Bankruptcy Court data. Numbers cited include all new filings, including open, closed and dismissed cases.

Colorado recorded 594 bankruptcy filings in October, compared with 440 in October 2022. Colorado recorded 489 bankruptcy filings in September.

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Year-to-date filings increased 18.9% statewide, to 5,058 from 4,255 through October 2022. Individual bankruptcies increased 18.7% year-to-date, while business filings increased 28.8%.

Among counties in the Boulder Valley and Northern Colorado:

• Boulder County recorded 23 bankruptcy filings in October, up 35% from 17 a year ago.The county has recorded 212 filings year-to-date, up from 145 a year ago, an increase of 46%. Boulder County recorded 20 filings in September.
• Broomfield recorded six bankruptcy filings in October, down from eight in October 2022. Year-to-date filings total 49, down from 64 in 2022, a 23% decrease. The city and county of Broomfield recorded seven filings in September.
• Larimer County filings totaled 42 in October, compared with 22 a year ago, an increase of 91%. Year-to-date filings total 315, up 31% from 240 a year ago. Larimer County recorded 28 bankruptcy filings in September.
• Weld County bankruptcy filings totaled 54 in October, up from 39 recorded a year ago, an increase of 38%. Year-to-date filings total 429, up 24% from 345 through October 2022. Weld County recorded 46 bankruptcy filings in September 2023.

Larimer County’s October filings included Purple Peony Inc., doing business as Summit View Commercial and Jackie’s Java, a coffee roaster based at 309 S. Summit View Drive in Fort Collins. The company filed for Chapter 11 bankruptcy protection on Oct. 24, citing assets of $500,000 to $1 million and liabilities of $1 million to $10 million.