Hospitality & Tourism  November 28, 2023

Fort Collins coffee roaster files for Chapter 11 bankruptcy protection

FORT COLLINS — Fort Collins-based coffee roaster Purple Peony Inc. has filed for Chapter 11 bankruptcy protection as revenues for 2023 appear to have dropped precipitously.

The company, located at 309 S. Summit View Drive, Unit 8, cites assets of $877,127.88 in its Oct. 24 filing and liabilities of $2.75 million, most of it partially secured by its property at Summit View. That property, however, is listed at $490,000 and the debt it secures was listed at $2.72 million, an amount owed to Key Bank. The real estate is owned by Purple Peony subsidiary Summit View Commercial LLC.

The company, owned by Stephanie Mecklenburg, president, and Christopher Mecklenburg, also has unknown amounts of unsecured liabilities, including sales taxes owed to multiple cities and the state, payroll taxes owed to the state and federal government, and property taxes owed to Larimer County. The filing also listed $14,854 in business credit card debt.

The company, which at one time operated as Jackie’s Java, was purchased from Jackie Harris, and the note on the purchase was paid off within the past year. 

Gross revenue as reported in the company’s statement of financial affairs was shown to be $601,454 from Jan. 1 until the filing date this year. In 2022, gross revenue was $1.175 million and the year before that, it was $1.089 million.

Bankruptcy judge Kimberly Tyson has set a Dec. 18 status conference in U.S. Bankruptcy Court in Denver at which time a proposed schedule for a reorganization plan will be discussed. The deadline for proof of claims is Jan. 2, 2024. 

The case is Purple Peony Inc., case number 23-14886, filed in U.S. Bankruptcy Court in Denver.

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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