Two days after co-founder and CEO Andrew Carter announced his departure from the Brooklyn, NY-based company via a LinkedIn post, Smallhold Inc. has filed for Chapter 11 bankruptcy protection.
According to the February 18 filing, Smallhold has liabilities between $1 million and $10 million to 200-999 creditors, and assets valued between $10 million and $50 million including three farms: in Brooklyn, Buda, TX, and Vernon, CA.
The company’s 2022 tax filing showed it posted $6.3 million in sales, an increase from $3.4 million the prior year. However, its cost of goods sold rose three times from 2021 to 2022, leading to an income loss of $2.8 million compared to $367,000 total income in 2021. Taxable income rose from -$6.8 million in 2021 to -$14.7 million in 2022.
Monomyth LLC, a Glenview, IL-based company, has a 90 percent stake in Smallhold Inc., according to the filing.
Smallhold started in 2017 in a shipping container in Brooklyn, and supplies specialty mushrooms to more than 1,000 stores across the U.S.
News you need.
Join Blue Book today!
Get access to all the news and analysis you need to make the right decision --- delivered to your inbox.
Subscribe to our newsletter
© 2025 Blue Book Services. All Rights Reserved
