A building collapse years ago sent a steel fabricator on the path to this month’s bankruptcy.
Integrity Iron, a Commerce City company formed in 2006, handles residential and commercial steel erection work, along with crane services and welding, owner Bill Farmer says.
The company worked on the new F1 Arcade in RiNo last year. It is building a Living Spaces furniture showroom in Lone Tree and a Hyundai dealership in Centennial.
“We had a major accident three years ago,” Farmer said by email. “Even though I wasn’t found at fault by OSHA, I ended up holding the bag. The accident cost us around $1 million.
“Insurance paid a measly $44,000 for this,” he said. “As you can imagine, this hurt.”
Farmer did not share details of the incident. He agreed to be interviewed but later declined.
Meanwhile, loans from BOK Financial came due. On June 10, BOK sued Farmer and his company for $1.5 million and asked a judge to appoint a receiver over the property at 11965 Tower Road in Commerce City. A hearing on that matter was scheduled for July 9.
Then, on June 16, Integrity Iron filed for bankruptcy protection, putting an end to the receivership scare.
“BOK’s covenants require the business to turn a profit. As you can imagine, we didn’t,” Farmer told BusinessDen, but noted that Integrity is current on its loan payments. “They don’t like that, so we were using a consulting group recommended by BOK, at a cost of $40,000. The consulting group proposed solutions, but BOK refused to waive any fees or penalties.”
So, Integrity filed for Chapter 11, which will allow it to reorganize and pay debts over time.
Those debts total $4.2 million. In addition to the BOK debt, it owes $1.8 million to the Internal Revenue Service, which has a lien over all its assets, $280,000 to the lender Kapitus, $170,000 to Sunstate Equipment Rental and $60,000 to the State of Colorado.
The company has assets of $1.4 million, $1 million of which is accounts receivable and $400,000 of which is equipment and vehicles. The company reported gross revenue of $5.4 million in 2024, $5.9 million in 2025 and $2.2 million in the first five months of this year.
Integrity’s bankruptcy lawyer is Aaron Garber with Wadsworth Garber Warner Conrardy.
