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STORJ Storj Labs, a decentralized cloud storage and computing services provider, has filed for Chapter 11 bankruptcy protection in the United States to restructure its outstanding financial liabilities.
The company announced that it filed a voluntary reorganization application with the U.S. Federal Bankruptcy Court for the Northern District of West Virginia on July 26, 2026. The procedure will be conducted under case number 5:26-bk-00512. Storj said that the application does not mean that operations will cease and the company will continue to operate as usual.
According to relevant summary information from the court application, the company's assets and liabilities are estimated to be between US$1 million and US$10 million. Storj Labs reportedly has 1 to 49 creditors.
Storj said the reorganization is aimed at resolving "historical liabilities" that were incurred before the implementation of the company's current strategy. The company pointed out that its main shareholder, Inveniam, is still providing financial support to Storj and that the scale of operations is being scaled back based on current conditions, but growth alone cannot eliminate past liabilities.
The company's statement contained the following:
"Today, Storj initiated a voluntary financial restructuring process that is accelerated and supervised by the court to resolve historical liabilities incurred prior to the implementation of our current strategy. Business and networks continue to operate as usual."
Storj said it does not expect to make any changes to the services provided to customers, its decentralized storage network, or the company's team during Chapter 11 bankruptcy protection. The company pointed out that employee salaries and normal business obligations arising after the start of the process are planned to be fulfilled after obtaining necessary court approvals.
The company also plans to divest some of the businesses generated from previous acquisitions and operations outside of its core businesses, thereby refocusing on decentralized storage. According to Storj's statement, Inveniam also supports the reorganization as an appropriate step towards the company's sustainable financial structure.
Storj management also said they aim to propose a model that would allow the management team, investors, the decentralized network community and STORJ token holders to participate in the ownership of the restructured company.
However, the company added that potential shares to be allocated to token holders have not yet been finalized. Participation terms, allocation mechanisms and other details will need to be prepared as part of the reorganization plan and approved by the court.
Storj also stated that the Chapter 11 bankruptcy filing will not change the existing use of STORJ tokens in the network. Company management stated that they would not make any evaluation of the token price while the process was underway.
The above chart shows the change in STORJ prices after this event.
* This content does not constitute investment advice.
