Soleply LLC, which launched in 2021 and expanded quickly to six locations, has filed for Chapter 11 protection in NJ bankruptcy court, aiming to terminate leases at underperforming stores and reduce its debt burden. The Cherry Hill, NJ-based company lists between $1 and $10 million in assets and liabilities. Co-founder and COO Thomas Yoder said that revenues grew quickly to a peak of $10.4 million in 2023, before contracting to $8.8 million last year, but inventory shortages and unsustainable debt service forced the bankruptcy filing.

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