King State Coffee has filed for chapter 11 reorganization after months of business interruptions caused by a slow-moving construction project on Floribraska Avenue in Tampa, the Tampa Bay Business Journal reported. The popular Tampa brewery and coffee shop has between $1 million and $10 million in liabilities, including around $500,000 in estimated unsecured claims, according to court documents filed on Feb. 2. Owners Nate Young and Tim McTague said that they filed for bankruptcy protections to adjust the business in anticipation that disruption from the project will not be resolved until at least April, if not longer. They initially raised concerns about the lack of urgency around the construction with city officials in January and requested financial assistance to shore up operations. The city referred that claim to JVS Contracting Inc., the company leading the project, but a decision on whether or how much King State is owed has not been reached, Young and McTague said.
