Full-service storage company Closetbox Inc. has filed for Chapter 7 bankruptcy. According to documents filed Friday with the U.S. Bankruptcy Court for the District of Colorado, the company has liabilities of $650,546 and assets of $32. $247.
Closetbox, which was founded in 2014, tried to stand out in the storage industry as a full-service company that dispatched licensed movers to pick up items and deliver them to customers.
Between its inception and January 2018, the company raised $19.8 million in capital, according to filings with the U.S. Securities and Exchange Commission.
Closetbox has two secured creditors. The largest is Roser Ventures LLC, a Boulder venture capital firm that is owed $279,976. The other, California-based Silicon Valley Bank, has a claim of unknown value.
The company has 946 unsecured creditors on file for bankruptcy. They range from government entities such as the Colorado Department of Revenue and the Internal Revenue Service, to moving companies, investment companies, business service companies, and hundreds of individuals.
The Closetbox website is no longer functional. Closetbox’s attorneys have not yet responded to requests for comment.
This article was first published by BizWest, an independent news agency, and is published under a license agreement. © 2022 BizWestMedia LLC.