Pangea Organics files for bankruptcy protection

BOULDER — Pangea Organics Inc., a Boulder-based provider of organic skincare products, has filed for Chapter 11 bankruptcy reorganization.

Pangea filed for bankruptcy with the U.S. Bankruptcy Court for the District of Colorado in Denver Monday, citing assets of $50,000 to $100,000, and liabilities between $1 million and $10 million.

Pangea’s initial filing did not include several documents required by the court, including a statement of financial affairs and a summary of assets and liabilities, which would include more-specific information. The court issued a Notice of Deficiency and gave Pangea until Jan. 2 to file those and other missing documents.

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Creditors with the largest unsecured claims include Under the Rose Holdings of Aspen, owed $1.24 million on a promissory note; Kickfurther of Boulder, owed $290,000; Creative Media Marketing Inc. of New York, owed $125,308; Stord Freight LLC of Atlanta, owed $96,005; and Berlin Packaging LLC of Chicago, owed $64,672.

Overall, the 20 largest unsecured claims total more than $2 million.

Joshua Onysko founded Pangea in his garage in 2001, initially selling soap on the Pearl Street Mall, at farmers markets and “even in the parking lot of Red Rocks on the weekends,” Onysko told the Boulder County Business Report, a predecessor of BizWest, in 2007.

An email to Onysko and a voice mail left for Pangea’s attorney, Jeffrey Brinen of Kutner Brinen Dickey Riley PC in Denver, were not returned prior to publication.

Pangea in December 2022 announced an equity crowdfunding campaign on WeFunder, a fundraising platform.

“I’m excited about this WeFunder campaign because I believe in democratizing investment in privately held companies,” Onysko said in a written statement announcing the campaign. “We should all have the right to invest in brands we love — especially when they align with our values. Through this campaign, I aim to build an authentic community around our brands and their missions, allowing all stakeholders to benefit from the success of Pangea brands.

Pangea’s WeFunder campaign has raised $212,350 from 22 investors as of April, according to the WeFunder site.

The company’s website lists restaurateur, chef and entrepreneur Kimbal Musk among its investors, along with Alex Chung, founder and CEO of Giphy; Patrick Drake, co-founder and former head chef of HelloFresh; and celebrity makeup artist Katey Denno.

The filing is Case No. 23-15826-MER, U.S. Bankruptcy Court for the District of Colorado.