Three years after “Shark Tank,” office product startup files for bankruptcy

A local company has gone from “Shark Tank” to bankruptcy court.

Thornton-based M.C. Squares, which makes whiteboard sticky notes, planners and to-do lists, filed for Chapter 11 bankruptcy on Dec. 22. The company said in the filing that it owes $3.3 million to 43 creditors and has assets of $900,000.

Chapter 11 bankruptcy allows a business to restructure and keep operating while paying creditors over time.

Founder and CEO Anthony Franco signed the filings. He declined to comment.

Franco founded M.C. Squares nearly 10 years ago to replace disposable office and school supplies such as sticky notes. Its products sell for about $25, according to its website. In 2020, the company appeared on ABC’s Shark Tank and landed what later became a $50,000 investment for 11 percent stake in the company from Kevin O’Leary.

M.C. Squares also received investments from local venture capital firms such aske Kokopelli Capital, Rockies Venture Club and Denver Angels.

In the bankruptcy filing, O’Leary Productions USA LLC is listed as a creditor owed $33,657, while Denver Angels is owed $408,700. Franco is also owed $566,400 for company loans and retainer funding.

The filings show revenue slowed in 2023. M.C. Squares reported $3.8 million in revenue in 2022 and $2.4 million from January 2023 to the December filing date. The company did less than $1 million in annual revenue prior to appearing on Shark Tank, Franco previously told BusinessDen.