Brickwork in Larimer Square, as seen in 2019. (Joe Amon/The Denver Post)
A Denver masonry contractor that had revenue of about $11.5 million last year has filed for Chapter 11 bankruptcy.
Diversified Masonry said in its April 3 filing that it owes about $2.69 million and has assets of $1.98 million. Dev Mahanti, who didn’t respond to requests for comment last week, signed the bankruptcy filing as manager/member of the company.
The Chapter 11 bankruptcy process allows a business to restructure and keep operating while paying creditors over time.
The company said it had revenue of $11.45 million in 2023, up 57% from $7.23 million in 2022. As of the filing date, it had done $1.56 million in 2024 revenue, below the pace of the previous two years.
In its filing, Diversified Masonry indicated it owes on multiple loans, including a $500,000 one from Citywide Banks and a $22,000 loan from Mahanti himself. The company said numerous vendors have claims, including Summit Brick (owed $144,000), General Shale Brick Inc. ($115,000), scaffolding rental firm Hydro Rents Colorado ($80,000), Barnes Construction Co. ($52,000) and Canyon Materials ($26,500).
The company said its employees are likely owed money. Mahanti’s wife covered payroll in early February but was reimbursed the next day, per the filing.
Diversified Masonry is the plaintiff in two lawsuits pending in local courts.
In Denver, the company sued Brinkman Constructors in January, saying it was owed $230,000 for work on an income-restricted condo project in RiNo. In Jefferson County, Diversified Masonry sued Catamount Constructors in December, alleging it hadn’t been paid for work on an apartment project in Wheat Ridge. The company wants $147,000.
In New York, meanwhile, Diversified Masonry is facing a collections lawsuit from Highland Hill Capital. In its bankruptcy filing, the contractor said it owes the company $137,000.
The company operates from 4785 Tejon St. in Denver.
Attorney Jeffrey Weinman of Allen Vellone Wolf Helfrich & Factor is representing the company in bankruptcy proceedings.
Brickwork in Larimer Square, as seen in 2019. (Joe Amon/The Denver Post)
A Denver masonry contractor that had revenue of about $11.5 million last year has filed for Chapter 11 bankruptcy.
Diversified Masonry said in its April 3 filing that it owes about $2.69 million and has assets of $1.98 million. Dev Mahanti, who didn’t respond to requests for comment last week, signed the bankruptcy filing as manager/member of the company.
The Chapter 11 bankruptcy process allows a business to restructure and keep operating while paying creditors over time.
The company said it had revenue of $11.45 million in 2023, up 57% from $7.23 million in 2022. As of the filing date, it had done $1.56 million in 2024 revenue, below the pace of the previous two years.
In its filing, Diversified Masonry indicated it owes on multiple loans, including a $500,000 one from Citywide Banks and a $22,000 loan from Mahanti himself. The company said numerous vendors have claims, including Summit Brick (owed $144,000), General Shale Brick Inc. ($115,000), scaffolding rental firm Hydro Rents Colorado ($80,000), Barnes Construction Co. ($52,000) and Canyon Materials ($26,500).
The company said its employees are likely owed money. Mahanti’s wife covered payroll in early February but was reimbursed the next day, per the filing.
Diversified Masonry is the plaintiff in two lawsuits pending in local courts.
In Denver, the company sued Brinkman Constructors in January, saying it was owed $230,000 for work on an income-restricted condo project in RiNo. In Jefferson County, Diversified Masonry sued Catamount Constructors in December, alleging it hadn’t been paid for work on an apartment project in Wheat Ridge. The company wants $147,000.
In New York, meanwhile, Diversified Masonry is facing a collections lawsuit from Highland Hill Capital. In its bankruptcy filing, the contractor said it owes the company $137,000.
The company operates from 4785 Tejon St. in Denver.
Attorney Jeffrey Weinman of Allen Vellone Wolf Helfrich & Factor is representing the company in bankruptcy proceedings.
