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Chaotic Good appears closed again; EDA flags possible loan exposure
Summary
EDA staff said local business Chaotic Good appears to have closed amid apparent bankruptcy/foreclosure after briefly reopening in 2025; staff noted the EDA holds a subordinated loan ("at least third position") and has had difficulty contacting the business’s owners.
Kasson City EDA members were told that Chaotic Good, a local business that briefly reopened in 2025 after a prior closure, appears to have closed again and may be in bankruptcy or foreclosure. A committee member said the EDA’s loan to Chaotic Good is in at least "third position," creating uncertainty about the recovery of the outstanding balance.
"If you didn't know Chaotic Good is closed again. Um sounds like official bankruptcy foreclosure," a committee member said during the financial report. Staff reported that the…
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