Breckenridge Ski Shop A Racer's Edge Files for Bankruptcy After State Moves to Seize Assets

One of Breckenridge's most storied ski shops is fighting for its survival after filing for bankruptcy protection last month, with debts exceeding $1 million and the State of Colorado having briefly seized its assets over an unpaid tax bill.

• The filing for Chapter 11 protection on April 24, 2026, was a direct response to aggressive collection efforts by the State of Colorado.

• State Seizure: Last week, state authorities briefly seized the shop’s assets due to over $100,000 in unpaid taxes.

• Emergency Reopening: The bankruptcy filing immediately halted the seizure, allowing owner Chuck Ginsburg to reopen the doors and begin a court-supervised reorganization.

A Racer's Edge, which has been a fixture in the resort community since the early 1970s, filed for Chapter 11 bankruptcy protection on April 24, according to court records. The filing came in direct response to Colorado attempting to seize the business over more than $100,000 in unpaid state taxes. The state briefly took control of the shop before the bankruptcy case halted the seizure, allowing the store to reopen while owner Chuck Ginsburg works to reorganize the business's finances.

"It filed this bankruptcy in response to the State of Colorado attempting to seize the business's assets," said Jamie Buechler, the company's bankruptcy attorney. "Mr. Ginsburg has been a staple in the Breckenridge community and has contributed to numerous organizations. He wants to save this business, not only for himself but for the community."

The shop, which specializes in high-end ski boots and precision boot fittings, has cultivated a reputation that stretches far beyond Colorado. Buechler said the store's clientele regularly travels from across the country — and even internationally — to work with Ginsburg.

According to the company's attorney, Jamie Buechler, the bankruptcy was essential to ensure the business's survival. "Mr. Ginsburg... wants to save this business, not only for himself but for the community," Buechler stated, noting the shop's unique reputation that draws customers from as far away as Japan. "People fly in from all over this country to buy his boots," Buechler said, highlighting the specialized niche the shop occupies just off Main Street.

Financial Breakdown: A Debt Mountain

While the shop remains a "staple" of the resort town, it is currently weighed down by a formidable list of creditors.

Adding to the burden are four high-interest merchant cash advance loans, a form of short-term business financing that can become difficult to escape. "There is also some merchant cash advance debt, which is very difficult to get out of and pay off," Buechler said.

A poor ski season compounded the shop's troubles. "Obviously the ski season wasn't good this year," Buechler said. "That severely impacted cash flow."

The situation is not without hope, however. A profit-and-loss statement filed with the U.S. Bankruptcy Court shows the business generated $1.5 million in revenue between April 2025 and April 2026, against $738,000 in expenses — suggesting the underlying business remains viable despite its debt load.

Under Chapter 11, A Racer's Edge will attempt to negotiate with creditors and restructure what it owes while continuing to operate. For Ginsburg and the community that has relied on his expertise for half a century, the goal is simple: keep the doors open.