Storj Labs, a provider of decentralized cloud storage and computing services, has applied for Chapter 11 protection in the U.S. to restructure its outstanding financial liabilities.
The company announced that it filed for voluntary restructuring with the U.S. Bankruptcy Court for the Northern District of West Virginia on July 26, 2026. The process will be conducted under file number 5:26-bk-00512. Storj stated that the filing is not intended to cease operations and that the company will continue to operate as usual.
According to the summary information regarding the court application, the company’s assets and liabilities are estimated to be between $1 million and $10 million. Storj Labs reportedly has between 1 and 49 creditors.
Storj stated that the restructuring aims to resolve “historical liabilities” that arose before the company’s current strategy. The company noted that its main shareholder, Inveniam, continues to finance Storj and that operations are being scaled down to suit current conditions, but that past liabilities cannot be eliminated solely through growth.
The company statement included the following:
“Today, Storj initiated a voluntary financial restructuring process, accelerated and oversighted by the courts, to resolve past liabilities that arose prior to our current strategy. The business and network continue to operate as normal.”
Storj stated that it does not expect any changes to the services offered to customers, its decentralized storage network, or its company team during the Chapter 11 process. It indicated that employee payments and normal business obligations arising after the process begins are planned to be met, subject to the necessary court approvals.
The company also plans to divest some operations stemming from previous acquisitions and outside its core business, thereby refocusing on decentralized storage. According to Storj’s statement, Inveniam also supports the restructuring as an appropriate step towards achieving a sustainable financial structure for the company.
Related News Cardano Founder Charles Hoskinson Makes Exclusive Statements About the Future of ADA
New Partnership Model on the Agenda for STORJ Token Holders
Storj management also stated that they aim to propose a model in which the management team, investors, the decentralized network community, and STORJ token holders can participate in the ownership of the restructured company.
However, the company added that the potential shares to be given to token holders have not yet been finalized. The terms of participation, the distribution mechanism, and other details will need to be prepared as part of the restructuring plan and approved by the court.
Storj also stated that the Chapter 11 filing does not alter the existing use cases of the STORJ token within the network. Company management indicated that they would not make any assessment regarding the token price while the process is ongoing.
*This is not investment advice.
