Glenwood Caverns Holdings LLC, the operator of Glenwood Caverns Adventure Park in Glenwood Springs, Colorado, has filed for Chapter 11 bankruptcy protection. The decision follows another lawsuit whose September 2025 verdict required the adventure park operator to pay nearly $205 million.
Chapter 11 Filing Details
According to the latest PACER report, Glenwood Caverns Holdings LLC made a voluntary filing on February 9. The Chapter 11 petition was submitted in the U.S. Bankruptcy Court for the District of Delaware.
William A. Hazeltine of Sullivan Nimeroff Brown Hill LLC is the attorney for Glenwood Caverns Holdings LLC in the case.
Company Background
Steve and Jeanne Beckley purchased the cave property for Glenwood Caverns Adventure Park in 1998. The first tours of the mountain-top themed park were conducted a year later.
By 2003, the Colorado-based attraction was drawing more than 100,000 visitors annually. Two years later, Alpine Coaster, the first and most popular ride was installed at Glenwood Caverns Adventure Park.
The Giant Canyon Swing is another award-winning ride at the mountain-top themed park.
Previous $205 million Lawsuit Verdict
In October 2021, Glenwood Caverns Holdings LLC faced a lawsuit from the parents of a young girl who died in an accident at one of the rides at the mountain-top themed park. After nearly four years, a Garfield County panel issued its verdict, ordering the adventure park operator to pay $205 million, according to Denver 7.
Case Developments
On behalf of Glenwood Caverns Holdings LLC, attorney William A. Hazeltine submitted the 16-page petition and paid a fee of $1,738. Additional details from the Chapter 11 petition include:
- Filing Date: February 9, 2026
- Court and Jurisdiction: U.S. Bankruptcy Court for the District of Delaware
- Type of Filing: Active, Voluntary Petition
- Chapter: 11
- Case Number: 1:26-bk-10166
- Estimated Assets: $10,000,001 to $50 million
- Estimated Liabilities: $100,000,001 to $500 million
- Reason for Filing: Restructure business under court supervision
As of now, Glenwood Caverns Holdings LLC has between 200 and 999 creditors. Court filings indicate that funds will be available for distribution to the unsecured creditors.
The adventure park operator submitted several first-day motions, as stated in the court filings, include a corporate ownership statement and list of equity security holders. A list of creditors with the 20 largest unsecured claims who are not insiders was also submitted.
Glenwood Caverns Holdings LLC then requested the court to approve the use of cash collateral, pay employee wages, maintain bank accounts, prohibit discontinuation of utility service, and maintain insurance policies.
The latest Chapter 11 filing by Glenwood Caverns Holdings LLC marks a notable milestone in its operations, as the entity faces financial strain following the September 2025 jury order. Bankruptcy proceedings under court supervision in the upcoming months are expected to guide its way forward amid the ongoing troubles.
