Storj Labs Files for Chapter 11 Bankruptcy on July 26, Cites Legacy Debt

STORJ-15.18%
According to ChainCatcher, Storj Labs filed for Chapter 11 restructuring on July 26 in the U.S. District Court for the Northern District of West Virginia to address historical legacy debt while maintaining continuous operations. The company confirmed that services remain unaffected during restructuring and customer obligations will continue to be fulfilled. Storj's Director of Software Engineering, Kaloyan Raev, stated the company has strong fundamentals and that the restructuring will establish a "clean foundation" for future growth, with plans to involve management, token community, and investors in post-restructuring ownership allocation.
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