Colorado Teardrops’ trailers are small enough to fit in a garage and be pulled by a Subaru. (Courtesy Teardrop Campers)
Three years after seeing a spike in business, a Boulder teardrop trailer manufacturer has filed for Chapter 7 bankruptcy.
Nine-year-old Colorado Teardrop Trailers, which operates at 1780 55th St., filed for bankruptcy on Nov. 30. Chapter 7 bankruptcies are typically a liquidation process involving a selloff of the debtor’s assets.
Founded in 2014 by Dean Wiltshire, Colorado Teardrop made small camper trailers, typically around 125 cubic feet. Wiltshire declined to comment.
In the filings, the manufacturer listed assets of $35,000 and said it owes $804,776 to 27 creditors. The company’s largest creditor is the Internal Revenue Service, with a claim of nearly $250,000.
Wiltshire, who signed the filings, claimed he’s owed $4,615. The former director of operations has a claim of roughly $2,300, as does the former sales director and office manager.
Colorado Teardrop’s revenue took a hit this year. It reported $2.3 million in revenue from January until the Nov. 30 filing date, compared to $6.8 million in 2022.
Wiltshire previously told BusinessDen in 2020 that Colorado Teardrop, like many outdoor adventure and campervan companies, saw sales jump because of the pandemic, although he said then he was expecting demand eventually would drop.
BusinessDen previously reported Colorado Teardrops trailers range from $13,900 to $33,000. The company’s website is no longer active.
In 2021, Colorado Teardrop launched its first fully electric trailer, according to a press release. Wiltshire then went on to start the engineering company Electric Trailer Chassis LLC in 2022, which is still active.
Attorney Jeffrey S. Brinen with Kutner Brinen Dickey Riley PC is representing the company in bankruptcy proceedings.
Earlier this year, Fort-Lupton based Hallmark RV filed for Chapter 11 bankruptcy. A judge dismissed the bankruptcy at the request of the company in October. An Englewood company that converts Humvees into campers, meanwhile, was recently ordered to pay $630,000 to two investors who say the owner defrauded them.
Colorado Teardrops’ trailers are small enough to fit in a garage and be pulled by a Subaru. (Courtesy Teardrop Campers)
Three years after seeing a spike in business, a Boulder teardrop trailer manufacturer has filed for Chapter 7 bankruptcy.
Nine-year-old Colorado Teardrop Trailers, which operates at 1780 55th St., filed for bankruptcy on Nov. 30. Chapter 7 bankruptcies are typically a liquidation process involving a selloff of the debtor’s assets.
Founded in 2014 by Dean Wiltshire, Colorado Teardrop made small camper trailers, typically around 125 cubic feet. Wiltshire declined to comment.
In the filings, the manufacturer listed assets of $35,000 and said it owes $804,776 to 27 creditors. The company’s largest creditor is the Internal Revenue Service, with a claim of nearly $250,000.
Wiltshire, who signed the filings, claimed he’s owed $4,615. The former director of operations has a claim of roughly $2,300, as does the former sales director and office manager.
Colorado Teardrop’s revenue took a hit this year. It reported $2.3 million in revenue from January until the Nov. 30 filing date, compared to $6.8 million in 2022.
Wiltshire previously told BusinessDen in 2020 that Colorado Teardrop, like many outdoor adventure and campervan companies, saw sales jump because of the pandemic, although he said then he was expecting demand eventually would drop.
BusinessDen previously reported Colorado Teardrops trailers range from $13,900 to $33,000. The company’s website is no longer active.
In 2021, Colorado Teardrop launched its first fully electric trailer, according to a press release. Wiltshire then went on to start the engineering company Electric Trailer Chassis LLC in 2022, which is still active.
Attorney Jeffrey S. Brinen with Kutner Brinen Dickey Riley PC is representing the company in bankruptcy proceedings.
Earlier this year, Fort-Lupton based Hallmark RV filed for Chapter 11 bankruptcy. A judge dismissed the bankruptcy at the request of the company in October. An Englewood company that converts Humvees into campers, meanwhile, was recently ordered to pay $630,000 to two investors who say the owner defrauded them.
