A small Denver coffee chain has turned to the bankruptcy court to help distribute what little funds are left.
Genessee Coffee filed for a Chapter 7 bankruptcy liquidation last week, listing $500,000 in liabilities and assets of $23,000. (You can see the filing here.)
The company formerly had coffee shops at the top of the 16th Street Mall, in Congress Park and near DTC. The locations at 110 16th St. and 1200 Clayton St. were Dazbog franchises until May 2015, when they defected and started flying the Genessee flag. The phone is disconnected from the location at 8101 Belleview Ave.
BusinessDen was unable to reach owner Genessee Finnegan. Robertson Cohen, a lawyer with the firm Cohen & Cohen, filed the case for Genessee. Cohen did not return calls seeking comment.
The coffee shop owes FirstBank $151,500 and local coffee vendors Novo $13,000 and Corvus $9,000, respectively, according to the filing.
Genessee’s revenue grew from $596,866 in 2014 to $895,124 in 2015. The business brought in $124,934 so far this year, according to paperwork filed with the court.