Highmark Communications’ offices at 5961 E. 38th Ave. in Denver on Wednesday, Dec. 4, 2024. (Justin Wingerter/BusinessDen)
A small office building in Park Hill is bankrupt, along with the company that owns it.
Highmark Communications, which is being sued for reportedly defaulting on a $2.7 million bank loan, filed for Chapter 7 bankruptcy at the end of November. Chapter 7 requires a company to close its door, liquidate its assets and distribute those assets among creditors.
“Thank you to the wonderful customers, independent service providers and Highmark team members. Highmark has ceased field operations,” the company’s website says now.
“We are in the process of sending equipment to customers, transitioning installations to third-party installers and refunding customer deposits for un-started projects.”
Highmark handled drive-thru technology needs for restaurants, such as headsets and digital menu boards. It did work in Colorado, Utah and Idaho, according to its website.
Highmark also owns 5961 E. 38th Ave., in northeast Park Hill. It paid $700,000 for the 60-year-old, 4,000-square-foot building in 2019, records show. Since then, Highmark has borrowed $1.2 million against that property, so it is also in Chapter 7 bankruptcy.
In its bankruptcy paperwork, Highmark reports owing $1.5 million to PNC Bank. Last month, that bank sued the company in Denver District Court for the $2 million that PNC believes it is owed. Highmark has not been served the lawsuit by PNC or responded to it in court.
Highmark also reports $800,000 in other unpaid loans from Bankers Healthcare Group, a small business lender, the U.S. Small Business Administration, and individuals. It owes $1.1 million to vendors, employees and clients as well, according to court filings. Highmark’s $3.4 million in debt far eclipses its $400,000 in assets, which is primarily cash and inventory.
Highmark’s owner, Alex Vorobieff, did not answer emails requesting an interview. Phone calls to his office were met with a recorded message: “We are no longer doing business.”
Highmark’s bankruptcy lawyer is Aaron Garber at Wadsworth Garber Warner Conrardy.
Highmark Communications’ offices at 5961 E. 38th Ave. in Denver on Wednesday, Dec. 4, 2024. (Justin Wingerter/BusinessDen)
A small office building in Park Hill is bankrupt, along with the company that owns it.
Highmark Communications, which is being sued for reportedly defaulting on a $2.7 million bank loan, filed for Chapter 7 bankruptcy at the end of November. Chapter 7 requires a company to close its door, liquidate its assets and distribute those assets among creditors.
“Thank you to the wonderful customers, independent service providers and Highmark team members. Highmark has ceased field operations,” the company’s website says now.
“We are in the process of sending equipment to customers, transitioning installations to third-party installers and refunding customer deposits for un-started projects.”
Highmark handled drive-thru technology needs for restaurants, such as headsets and digital menu boards. It did work in Colorado, Utah and Idaho, according to its website.
Highmark also owns 5961 E. 38th Ave., in northeast Park Hill. It paid $700,000 for the 60-year-old, 4,000-square-foot building in 2019, records show. Since then, Highmark has borrowed $1.2 million against that property, so it is also in Chapter 7 bankruptcy.
In its bankruptcy paperwork, Highmark reports owing $1.5 million to PNC Bank. Last month, that bank sued the company in Denver District Court for the $2 million that PNC believes it is owed. Highmark has not been served the lawsuit by PNC or responded to it in court.
Highmark also reports $800,000 in other unpaid loans from Bankers Healthcare Group, a small business lender, the U.S. Small Business Administration, and individuals. It owes $1.1 million to vendors, employees and clients as well, according to court filings. Highmark’s $3.4 million in debt far eclipses its $400,000 in assets, which is primarily cash and inventory.
Highmark’s owner, Alex Vorobieff, did not answer emails requesting an interview. Phone calls to his office were met with a recorded message: “We are no longer doing business.”
Highmark’s bankruptcy lawyer is Aaron Garber at Wadsworth Garber Warner Conrardy.
