AMERICAS DISTRESS DAILY: Megabus Owner Coach USA Goes Bankrupt

Bus company Coach USA, owner of the Megabus brand, filed for bankruptcy, saying it was unable to recover from a decline in ridership brought on by the pandemic.

The company owes creditors between $100 and $500 million, according to its Chapter 11 petition filed Tuesday in Wilmington, Delaware. To help pay for the restructuring case and to keep operating during bankruptcy, the company has arranged to borrow as much as $20 million.

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