Saddled with millions of dollars in debts, Aspen businessman Scott DeGraff has sought Chapter 11 bankruptcy protection, court documents show.
DeGraff filed a petition Friday in the U.S. Bankruptcy Court in Denver, listing both his assets and debts between $10 million and $50 million. DeGraff filed as an individual, though the petition says his debts are “primarily business”-related.
The bankruptcy sits against a backdrop of business setbacks DeGraff endured since he tapped the local eatery and bar market in 2008.
In December 2008, he opened Junk and Liquid Sky at Base Village in Snowmass, shutting them down at the end of the ski season. A lease he signed in May 2009 to reopen the Red Onion in Aspen was terminated before the historic tavern did a day of business.
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