Leap Transit, the venture-backed private bus company that served on-board coconut water, has officially gone bankrupt.
While the San Francisco company quietly filed its Chapter 7, or liquidation, papers on July 15, it wasn’t noticed until the San Francisco Examiner reported that the company’s remaining buses are set to be auctioned off next month. Amongst Leap’s creditors are investors, lawyers, and even Kelly’s Truck Repair of San Leandro, California.
In May 2013, when Leap was testing out its service by essentially mirroring the 30X Muni line from the Marina to downtown, San Francisco Supervisor John Avalos was not impressed. He called the entire company’s business model a “crock of shit” in an interview with the San Francisco Chronicle.