Storj Labs Files for Chapter 11 Bankruptcy in Debt Restructuring Case Valued Under $10M
Storj Labs filed for Chapter 11 bankruptcy protection on July 26 to restructure legacy debt while maintaining operations of its decentralized cloud storage network. The company, which lists assets and liabilities between $1M and $10M, entered the case in the Northern District of West Virginia with a court-supervised financial restructuring.
The Atlanta-based operator, which employs 53 people and oversees a network that previously hosted more than 20,000 active storage nodes, stated that customer services will remain uninterrupted. Management, token holders, and investors are expected to jointly own the reorganized company after its 2025 acquisition by parent firm Inveniam IO.
From the sources (4 posts)
@wublockchainStorj Labs Files for Chapter 11 Bankruptcy After Raising Approximately $35 Million Storj Labs, the company behind decentralized cloud storage network Storj, has voluntarily filed for Chapter 11 bankruptcy protection to address legacy debt
@wublockchainSource:
@storjToday Storj began a voluntary financial restructuring — an accelerated, court-supervised reorganization to resolve legacy liabilities that predate our current strategy. The business and network continue as normal. 🧵
@_rkconsultants🚨 Storj Labs files for chapter 11 protection in West Virginia STORJ LABS INC. 📊 Assets: $1M-$10M | Liabilities: $1M-$10M | Creditors: 1-49 | Industry: Decentralized Cloud Storage and Compute Services | District: Northern District of West V