LONGMONT — Worldwide Moving Systems LLC, a moving and storage company that was based at 501 S. Francis St. in Longmont, has filed for Chapter 7 bankruptcy protection.
In Chapter 7 bankruptcy, also known as liquidation bankruptcy, the bankruptcy court oversees the sale of assets in order to pay creditors.
In this case, Worldwide’s filing said it had assets of $1,180,500 and liabilities of $2,726,185.
Worldwide, which had trade names of TLC Moving & Storage and Storage Done Right, is owned by Gary Buchholtz, who is listed as managing member of the limited liability company. Buchholtz is known in Northern Colorado for his former ownership of the House of Spirits in Loveland and for his charitable activities.
Among the assets is a note receivable for $1,092,500. Worldwide sold the assets of the company to Scot Seevers, managing member of STS Relocation LLC, Feb. 10, 2023. STS is the trade name for Seevers Transfer and Storage LLC. Seevers did not return a call seeking clarification.
Liabilities included debts to a number of creditors, the largest of which was a personal-injury lawsuit judgment of $1,603,908 to Joshua Portschi, who listed a Denver law firm as his contact information.
Worldwide also had debts to the U.S. Small Business Administration for $284,700, a bill to the E-470 Public Highway Authority of $30,908, legal bills, and a rent payment to Buchholtz TLC Commercial for $263,346, among others.
Worldwide’s attorney in the bankruptcy, Payton Buhler of the Bell, Gould, Linder & Scott P.C. law firm in Fort Collins, did not return a call seeking additional information.