Colorado Teardrop Trailers to liquidate

BOULDER – Colorado Teardrop Trailers LLC, a company that manufactured aerodynamic-designed camper trailers in Boulder and was developing campers with batteries that could charge electric vehicles, has filed for Chapter 7 bankruptcy protection.

The filing was made Thursday in U.S. Bankruptcy Court for the District of Colorado.

Under Chapter 7, a bankruptcy trustee gathers and sells the debtor’s nonexempt assets and uses the proceeds to pay creditors or other holders of claims under the terms of the Bankruptcy Code. That code also allows the debtor to keep certain “exempt” property, but a trustee will liquidate the debtor’s remaining assets.

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The company listed liabilities of $804,776.82, with money owed to 23 creditors, including $247,562.65 owed to the Internal Revenue Service, $200,000 owed to Ernie Duran of Boulder,  $67,486.50 owed to Westland Development Services of Boulder, and $34,932.33 owed to Centura Funding LLC of Plano, Texas.

A virtual meeting for creditors has been scheduled for Jan. 3.

The company listed assets of $35,080, including a 2021 Toyota Tacoma valued at $30,000, $5,000 worth of office furniture, fixtures, computer equipment and collectibles, tools of unknown value, and $80 cash.

According to the documents, the company generated just $2,362,984 in gross revenue from Jan. 1 through the bankruptcy filing date, compared with $6,879,720 for all of 2022 and $3,813,609 for all of 2021.

Colorado Teardrops was founded in 2014 by Dean Wiltshire. In October 2018, it moved into an 8,000-square-foot location at 1750 55th St. to accommodate manufacturing space, sales, operations, research and development and a showroom. That location was double the size of its previous location at 2200 Central Ave.

Neither Wiltshire nor his attorney, Jeffrey Brinen of Denver-based Kutner Brinen Dickey Riley PC, returned calls for comment in time for BizWest’s afternoon deadline.