The website of Adept Concrete. (Screenshot)
A Golden concrete and excavation company has filed for Chapter 7 bankruptcy following several lawsuits claiming it failed to pay for materials.
Adept Concrete Ltd., which is located at 4265 Kendrick St. in Golden, filed for bankruptcy on July 26. Chapter 7 bankruptcies are typically a liquidation process involving a selloff of the debtor’s assets.
Adept Concrete listed assets of about $3 million and said it owes $1.6 million to 39 creditors.
Adept Concrete is owned by Daniel Garcia and was founded in 2016, according to its LinkedIn page. The company had revenue of $850,000 from January through mid-July, according to its bankruptcy filing. That compares to revenue of $9.5 million in 2023 and $9.8 million in 2022.
Garcia didn’t respond to requests for comment.
Adept’s largest creditors include Kubota and Caterpillar Financial, owed $331,620 and $192,438, respectively, in secured claims for equipment loans, according to the filing. Adept also owes between $20,000 and $35,000 each to Wagner Equipment Company in Aurora, Metro Pavers Inc. in Henderson, Martin Marietta Materials in Golden, H&E Equipment Services in Colorado Springs and Halde Redi-Mix Inc. in Burlington for trade debts.
This year, Adept Concrete has been sued four times for failing to pay for materials and services, according to court records. The bankruptcy filing will pause the lawsuits.
Waste Management Disposal Services of Colorado sued Adept in February, claiming the company failed to pay it $54,225 for waste management services.
Smyrna Ready Mix Concrete sued Adept Concrete twice in June, once in Jefferson County in connection with a new Kum & Go and once in Douglas County regarding property owned by Lithia Real Estate. Between the two lawsuits, Smyrna claimed Adept had failed to pay nearly $65,000 for materials used on the projects.
Adept was sued earlier this year for failing to pay $55,926 to Holcim Wcr Inc. for materials used for the construction of Superstar Carwash at 9111 E. 40th Ave. in Denver. That case was dismissed in May.
According to the bankruptcy filings, Epic Construction Inc. is also suing Adept Concrete to collect on unpaid services and materials. The bankruptcy filings list $55,950 owed to Epic Construction in unsecured claims.
Adept was also a plaintiff in one case last year. The firm sued the general contractor and owner of Future Legends Sports Complex in Windsor, saying it was owed $614,000 for its services according to court filings. That case remains pending.
Adept claimed the would-be awarded amount from the Future Legends lawsuit as an asset in its bankruptcy filing, as well as a mechanics liens claim against Ace Design & Construction LLC and a potential one against Alvarado Construction. The company’s other listed assets are largely equipment totaling $1.58 million.
Aaron Garber of Wadsworth Garber Warber Conrardy in Littleton is representing the company in bankruptcy proceedings. He did not respond to requests for comment.
The website of Adept Concrete. (Screenshot)
A Golden concrete and excavation company has filed for Chapter 7 bankruptcy following several lawsuits claiming it failed to pay for materials.
Adept Concrete Ltd., which is located at 4265 Kendrick St. in Golden, filed for bankruptcy on July 26. Chapter 7 bankruptcies are typically a liquidation process involving a selloff of the debtor’s assets.
Adept Concrete listed assets of about $3 million and said it owes $1.6 million to 39 creditors.
Adept Concrete is owned by Daniel Garcia and was founded in 2016, according to its LinkedIn page. The company had revenue of $850,000 from January through mid-July, according to its bankruptcy filing. That compares to revenue of $9.5 million in 2023 and $9.8 million in 2022.
Garcia didn’t respond to requests for comment.
Adept’s largest creditors include Kubota and Caterpillar Financial, owed $331,620 and $192,438, respectively, in secured claims for equipment loans, according to the filing. Adept also owes between $20,000 and $35,000 each to Wagner Equipment Company in Aurora, Metro Pavers Inc. in Henderson, Martin Marietta Materials in Golden, H&E Equipment Services in Colorado Springs and Halde Redi-Mix Inc. in Burlington for trade debts.
This year, Adept Concrete has been sued four times for failing to pay for materials and services, according to court records. The bankruptcy filing will pause the lawsuits.
Waste Management Disposal Services of Colorado sued Adept in February, claiming the company failed to pay it $54,225 for waste management services.
Smyrna Ready Mix Concrete sued Adept Concrete twice in June, once in Jefferson County in connection with a new Kum & Go and once in Douglas County regarding property owned by Lithia Real Estate. Between the two lawsuits, Smyrna claimed Adept had failed to pay nearly $65,000 for materials used on the projects.
Adept was sued earlier this year for failing to pay $55,926 to Holcim Wcr Inc. for materials used for the construction of Superstar Carwash at 9111 E. 40th Ave. in Denver. That case was dismissed in May.
According to the bankruptcy filings, Epic Construction Inc. is also suing Adept Concrete to collect on unpaid services and materials. The bankruptcy filings list $55,950 owed to Epic Construction in unsecured claims.
Adept was also a plaintiff in one case last year. The firm sued the general contractor and owner of Future Legends Sports Complex in Windsor, saying it was owed $614,000 for its services according to court filings. That case remains pending.
Adept claimed the would-be awarded amount from the Future Legends lawsuit as an asset in its bankruptcy filing, as well as a mechanics liens claim against Ace Design & Construction LLC and a potential one against Alvarado Construction. The company’s other listed assets are largely equipment totaling $1.58 million.
Aaron Garber of Wadsworth Garber Warber Conrardy in Littleton is representing the company in bankruptcy proceedings. He did not respond to requests for comment.
