Aurora-based Metco Landscape is apparently going out of business, and on Monday filed a notice with the Colorado Secretary of State’s Office that it will lay off hundreds of workers in its Denver metro area and Colorado Springs offices.

The California investment firm that owns the 35-year Denver area landscaping company said Tuesday it’s in receivership in a district court in Boulder, meaning its assets are being sold as the company can’t pay its debts. 

Companies in Colorado are required to file a “Worker Adjustment and Retraining Notification Act” (WARN) notice when layoffs are imminent.

The company indicated that it would lay off 343 workers in the coming weeks, most in its Aurora, Arvada and Englewood offices. It also indicated that it planned to lay off 36 workers in El Paso County. 

On Tuesday, the company’s website still had a bright yellow alert saying, “We’re hiring” and listed seven openings from sales to crew members.

The company has been in operation since 1987 and “has been recognized by Landscape Magazine’s Top 100 List for three years in a row,” according to its website.

The company’s assets were acquired at the end of 2021 by Atar Capital, a Los-Angeles-based global private investment firm. At the time, Atar officials claimed that Metco was “the largest privately owned landscape company in Colorado,” according to a news release.

“After 35 years in business, we are sad to announce that Metco Landscape (Metco) has been placed into a receivership in Boulder County District Court due to unforeseen financial and economic conditions,” according to a statement from Atar Tuesday.

“Despite a significant infusion of capital from its new owners beginning in early 2022, it became clear that Metco was facing financial hardship and an economic environment that has changed drastically due to higher interest rates, rising inflation, and a downturn in the housing industry,” according to the statement. “Metco’s employees were informed of this decision at company-wide meetings that began on the morning of Thursday, July 28.

“We recognize that this type of outcome is very difficult for our employees, community, customers and suppliers. The court-appointed receiver will now be responsible for any and all decisions related to the company.”