A small Colorado teardrop manufacturer has filed for Chapter 7 bankruptcy protection.
Boulder-based Colorado Teardrop Trailers LLC made the bankruptcy filing Nov. 30. The company listed liabilities of over $804,000 and assets of $35,080.
Assets listed included a 2021 Toyota Tacoma, valued at $30,000; office furniture, fixtures, computer equipment and collectibles totaling $5,000; $80 cash and tools with an unknown value. No trailers were listed among the company’s assets in the bankruptcy filing.
The manufacturer was founded in 2014 by Dean Wiltshire. Four years later the company moved into an 8,000-square-foot building that doubled its previous size, according to a BizWest media report. In 2022 the company expanded its facility to 20,000 square feet.
A June 2022 RV News story said the manufacturer employed 40 workers.
The bankruptcy filing said Colorado Teardrops generated $2,363,984 in 2023 gross revenue before the filing. The total was a large drop from the $6,879,720 listed in 2022 gross revenue and the $3,813,609 in 2021 gross revenue.
The company’s 2023 gross revenue was down 66% from 2022 levels.
