Storj Announces Voluntary Financial Restructuring to Resolve Legacy Liabilities and Position the Business for Growth
Globe News Wire
Published: Jul 27, 2026, 03:39 AM GMT+9
Sentiment Analysis
Storj Labs, Inc. voluntarily filed Chapter 11 in the United States Bankruptcy Court for the Northern District of West Virginia, Case No. 5:26-bk-00512 (Bk N.D. W.Va.). Storj filed the Chapter 11 restructuring to address certain legacy obligations while preserving Storj’s ongoing business operations.
Storj will continue operating in the ordinary course throughout the Chapter 11 process. Storj also does not anticipate any interruptions in service to its customers, and will continue meeting its obligations, subject to the United States Bankruptcy Court in the Northern District of West Virginia and applicable bankruptcy statutory provisions.
"This is a decisive, positive step," said Kaloyan Raev, Director of Software Engineering of Storj. "The business underneath is strong and right-sized. What holds it back are legacy obligations from an earlier chapter. This process lets us resolve them in an orderly way and come out the other side with a clean foundation — and with a plan for management, our token community, and our investors to share in the ownership of the restructured company, taking Storj back to its strong decentralized roots, serving our clients."
Storj has focused its attention on its core business and is in the process of dispositioning previous acquisitions and non-essential operations. Since acquiring Storj, Inveniam has supported this focus on Storj’s original business proposition and has continued to support Storj throughout, and it endorses this reorganization as the right path to a sustainable future serving their core clients, and ownership by the management team, decentralized community, Token holders, and potential investors.
About Storj Storj delivers a unified cloud solution designed for global media, AI, and creative workflows. Combining distributed storage, advanced compute, and file access, Storj delivers a platform that powers efficiency and innovation to operate on a global scale.
About Inveniam Inveniam provides verifiable data infrastructure for private markets. The company transforms unstructured private market information into cryptographically verifiable, AI-ready data, preserving data provenance so every insight, decision, and transaction is traceable to its original source. This infrastructure powers regulatory compliance, autonomous AI workflows, tokenized assets, and the next generation of digital financial markets.
Source: Globe News Wire
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