A Detroit-based grocery-hauling firm with over 300 vehicles has filed for bankruptcy alongside a number of associate firms.
SFD Transportation filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Courtroom for the Northern District of Texas on Monday. The submitting was in Texas as a result of a bankruptcy case regarding an affiliate of the debtor was already pending there.
In response to the submitting obtained by FreightWaves, SFD estimated it has between 5,001 and 10,000 collectors, with liabilities totaling between $500 million and $1 billion. The corporate estimated it has between $1 billion and $10 billion in property.
SFD Transportation joins 11 different subsidiaries and mother or father firm Del Mar Holding LLC in submitting collectively for Chapter 11 bankruptcy protections. All companies concerned are:
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Cascade Meals Brokers Inc.
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Del Mar Acquisition Inc.
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Del Mar Holding LLC
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Hamilton Meat LLC
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Harvest Meat Co. Inc.
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Harvest Sherwood Meals Distributors Inc.
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Lamcp Capital LLC
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SFD Acquisition LLC
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SFD Co. LLC
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SFD Transportation Corp.
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Sherwood Meals Distributors LLC
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Surfliner Holdings Inc.
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Western Boxed Meat Distributors Inc.
In response to the submitting, these debtors have moved for joint administration of the circumstances beneath one Chapter 11 case quantity assigned to the subsidiary Harvest Sherwood Meals Distributors. Harvest Sherwood shut down operations on April 21, shedding 1,500 staff.
An involuntary Chapter 7 petition was filed towards Sherwood Meals Distributors on April 18 in the Bankruptcy Courtroom for the Jap District of Michigan. The submitting acknowledged that the debtors anticipate this case can be dismissed with the consent of the petitioning collectors after the beginning of the Chapter 11 case.
Eric Kaup, Sherwood’s chief restructuring officer, signed off on behalf of SFD Transportation in this submitting.
High collectors listed in SFD Transportation’s bankruptcy submitting are Burford Capital ($35 million) in Chicago, Nationwide Beef Packing Co. ($15.5 million) in Kansas Metropolis, Missouri, and Tyson Meals ($13 million) in Springdale, Arkansas.
In response to SAFER knowledge, SFD Transportation carries common freight, recent produce, meat, refrigerated meals and paper merchandise. The corporate has 308 energy models and employs 262 drivers.
The put up Detroit carrier joins distributor in large-scale bankruptcy appeared first on FreightWaves.
