Ink! Coffee, a well-established coffee roasting and retail company, has filed for Chapter 11 bankruptcy in Colorado, citing estimated liabilities between $1 to $10 million. The company, which was founded in 1994, has been struggling in recent years, with numerous locations closing down. The bankruptcy filing comes just before a provision in the CARES Act that reduces the amount of liabilities qualifying for Subchapter V status was set to expire. This move is likely an attempt to reorganize the business and get back on track. It's a shame to see a beloved coffee brand struggling, but hopefully, this step will allow them to revamp and come back stronger. The fact that they were able to file under Subchapter V, which is typically used by small businesses, suggests that they are committed to finding a solution.
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