Red House Tools, LLC has voluntarily initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Colorado. Case records suggest a financial imbalance as the company’s estimated range of liabilities exceed its estimated assets range.
Note: Chapter 11 allows businesses to reorganize their debts while continuing operations under court supervision. Red House Tools, LLC has filed for Chapter 11 subchapter V, which provides a streamlined Chapter 11 process for qualifying small business debtors. A Chapter 11 filing does not necessarily mean that a business is closing. For additional information, readers are encouraged to contact the business directly.
Red House Tools, LLC Seeks Bankruptcy Protection
Court records available through PACER show that the company submitted its petition on October 7. The records classify Red House Tools, LLC as a small business debtor and add that it is moving ahead using a Subchapter V filing.
Benjamin Earnhart, who is mentioned as the company’s managing member, signed the petition before it was filed…