The devastating financial difficulties brought on by the COVID-19 outbreak have forced a coffee and café company to seek for Chapter 11 bankruptcy.
Many smaller cafes and coffee shops have still not been able to recover financially from the pandemic, and that includes Cottonwood Coffee, a roastery that distributes its beans to individuals across the country and offers wholesale distribution.
The first of the company’s two cafés opened in 2006 and is located in Brookings, South Dakota.
Cottonwood Coffee downtown is a classic coffeehouse, according to the company’s website. It has high ceilings, wooden booth seating, plenty of natural light, and, of course, coffee drinks that are well made.
In 2008, it launched its second cafe, and since then, it has gradually increased its wholesale and online activities.
“Unceasingly, we aim to become masters in our field,”
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We are never content with mediocrity and are constantly seeking methods to improve every step of the process, from roasting to brewing to serving.
We want to be clear that we are not trying to come across as arrogant, intimidating, or unapproachable by pursuing greatness.
“We believe strongly that regular people should be able to enjoy great coffee,” the company shared.
The United States Bankruptcy Court for the District of South Dakota received Cottonwood Coffee’s Chapter 11 bankruptcy petition on July 2, 2018.
According to the statement, the company’s total liabilities were $809,000, with loans ranging from $100,000 to $500,000.
The Street states that its assets are used to secure around $322,000 of its liabilities.
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