The brewery has a taproom at 2030 S. Cherokee St. (BizDen file photo)
Denver’s Declaration Brewing Co. has filed for Chapter 11 bankruptcy.
The brewery at 2030 S. Cherokee St. in the Overland neighborhood, which operates a taproom and also distributes its brews, said in its Monday filing that it owes $894,540. The company said it has assets totaling $511,482.
Companies use Chapter 11 bankruptcy protection to reorganize and help keep the business alive, paying creditors over time.
Declaration President Michael Blandford signed the filing. A request for comment left with brewery staff Tuesday morning was not returned.
Declaration lists “Rees Davis and Partners” as its largest creditor, owed $200,000. Davis is a partner with Littleton-based BaseCamp Capital, which purchased Declaration’s real estate in Overland in 2018 for $2.5 million. BaseCamp sued Declaration this month, saying the business was behind on rent by $30,000.
Declaration lists “BaseCamp Brew” as a separate creditor, owed $14,583. The brewery said it also owes $130,000 to QuarterSpot and $115,000 to Retail Capital/Credibly, both of which appear to make loans to small businesses.
Attorney Devon Michael Barclay is representing the company in bankruptcy proceedings.
The brewery has a taproom at 2030 S. Cherokee St. (BizDen file photo)
Denver’s Declaration Brewing Co. has filed for Chapter 11 bankruptcy.
The brewery at 2030 S. Cherokee St. in the Overland neighborhood, which operates a taproom and also distributes its brews, said in its Monday filing that it owes $894,540. The company said it has assets totaling $511,482.
Companies use Chapter 11 bankruptcy protection to reorganize and help keep the business alive, paying creditors over time.
Declaration President Michael Blandford signed the filing. A request for comment left with brewery staff Tuesday morning was not returned.
Declaration lists “Rees Davis and Partners” as its largest creditor, owed $200,000. Davis is a partner with Littleton-based BaseCamp Capital, which purchased Declaration’s real estate in Overland in 2018 for $2.5 million. BaseCamp sued Declaration this month, saying the business was behind on rent by $30,000.
Declaration lists “BaseCamp Brew” as a separate creditor, owed $14,583. The brewery said it also owes $130,000 to QuarterSpot and $115,000 to Retail Capital/Credibly, both of which appear to make loans to small businesses.
Attorney Devon Michael Barclay is representing the company in bankruptcy proceedings.
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