An Englewood-based CBD cream company has filed for Chapter 11 bankruptcy.
Myaderm said in its June 28 filing that it owes $3 million to creditors and also has assets worth $3 million, of which $50,000 is in cash.
The company did not respond to a request for comment.
Companies use Chapter 11 bankruptcy protection to reorganize and help keep the business alive, paying creditors over time.
Myaderm, led by CEO Eric Smart, sells therapeutic cannabinoid products, according to its website. The CBD company, which launched in 2018, sells lines of pharmacist-formulated, transdermal CBD creams and topical CBD products for skincare at national retailers, such as Dick’s Sporting Goods.