E Point Perfect
Law \ Legal

New Chapter 11 Filing – Packable Holdings, LLC.


On August 28, 2022, Hauppauge, N.Y.-based Packable Holdings, LLC, a privately-owned tech-enabled e-commerce company, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10797).  The company reports $100 million to $500 million in both assets and liabilities.  According to the first day declaration, the company was unable to obtain a long-term solution to its liquidity needs and was forced to commence a wind-down of its operations.  Therefore, the company filed for chapter 11 protection to facilitate the sale of its assets and ensure that the wind-down is conducted in an orderly and value-maximizing manner.

Cole Schotz does not represent the Debtors in this case.  We are posting this for informational purposes only.  If you have received a notice and have any questions, you should contact Debtors’ counsel.

Cole Schotz’s nationally renowned Bankruptcy & Corporate Restructuring group practices in Delaware, Maryland, New Jersey, New York, and Texas.



Source link

Related posts

Seattle backs cops—teachers, not so much

Dawn Zuniga

Barry Callebaut warns of Salmonella shutdown impact

Dawn Zuniga

California Corporate Practice of Medicine Lawsuit Survives Motion to Dismiss

Dawn Zuniga

Chancery Addresses Fiduciary Duties of Corporate Officer

Dawn Zuniga

Public health alert issued over chicken sold at BJ’s Wholesale Club after consumer finds plastic in product

Dawn Zuniga

Practice points: appealing PBM audits

Dawn Zuniga