Comprise was headquartered in Boulder and had a Denver office. (LinkedIn)
A Boulder-based public relations firm has given up on its reorganization plans and closed.
Comprise, which was formerly called MAPRagency, filed for Chapter 11 bankruptcy protection in March and laid off a handful of employees. Owner Doyle Albee said then that some clients had gone bankrupt, leaving Comprise unable to collect hundreds of thousands of dollars.
The plan was to reorganize and remain in business. Last month, those plans changed.
“There have been ongoing efforts by former employees to poach (Comprise)’s customers,” its lawyers wrote on May 20, “making Chapter 11 reorganization all the more difficult and misdirecting the attention of Mr. Albee and loyal employees from the reorganization.”
So, the firm closed its doors June 1. Albee and most employees are going to work for Hawke Media in California, “a much larger company that will provide both more stable compensation and a more certain future for Mr. Albee and his employees,” Comprise’s lawyers say.
Doyle Albee, owner of Comprise (LinkedIn)
When BusinessDen asked Hawke Media for comment, the firm’s vice president inadvertently included a reporter in an email chain meant for other Hawke executives.
“I would leave this one alone and not respond,” Kyle Harrington emailed Monday.
“Agreed,” wrote CEO Erik Huberman. A third executive also decided that was best.
Comprise’s switch from Chapter 11 to Chapter 7, in which its assets will be liquidated and split among creditors, is sure to leave some unpaid. The firm has debts of $1.7 million and $470,000 in assets. Nearly all of the assets are in accounts receivable, which Alpine Bank (owed $150,000) has a lien on. Former Comprise employees are owed $90,000.
Comprise’s bankruptcy lawyer is Jeffrey Weinman at Allen Vellone Wolf Helfrich & Factor.
Comprise was headquartered in Boulder and had a Denver office. (LinkedIn)
A Boulder-based public relations firm has given up on its reorganization plans and closed.
Comprise, which was formerly called MAPRagency, filed for Chapter 11 bankruptcy protection in March and laid off a handful of employees. Owner Doyle Albee said then that some clients had gone bankrupt, leaving Comprise unable to collect hundreds of thousands of dollars.
The plan was to reorganize and remain in business. Last month, those plans changed.
“There have been ongoing efforts by former employees to poach (Comprise)’s customers,” its lawyers wrote on May 20, “making Chapter 11 reorganization all the more difficult and misdirecting the attention of Mr. Albee and loyal employees from the reorganization.”
So, the firm closed its doors June 1. Albee and most employees are going to work for Hawke Media in California, “a much larger company that will provide both more stable compensation and a more certain future for Mr. Albee and his employees,” Comprise’s lawyers say.
Doyle Albee, owner of Comprise (LinkedIn)
When BusinessDen asked Hawke Media for comment, the firm’s vice president inadvertently included a reporter in an email chain meant for other Hawke executives.
“I would leave this one alone and not respond,” Kyle Harrington emailed Monday.
“Agreed,” wrote CEO Erik Huberman. A third executive also decided that was best.
Comprise’s switch from Chapter 11 to Chapter 7, in which its assets will be liquidated and split among creditors, is sure to leave some unpaid. The firm has debts of $1.7 million and $470,000 in assets. Nearly all of the assets are in accounts receivable, which Alpine Bank (owed $150,000) has a lien on. Former Comprise employees are owed $90,000.
Comprise’s bankruptcy lawyer is Jeffrey Weinman at Allen Vellone Wolf Helfrich & Factor.
