Classic Car Club Manhattan Files for Chapter 11 Bankruptcy

New York Classic Motors LLC, the entity behind Classic Car Club Manhattan, filed for bankruptcy in New York on Friday.

• The group listed assets and liabilities of as much as $50 million each, according to its court petition
• Classic Car Club gives members access to a variety of luxury and sports cars for a fee, according to its website
• NOTE: Chapter 11 bankruptcy lets firms continue operating while working out a plan to repay creditors
• The case is New York Classic Motors LLC, 21-10670, U.S. Bankruptcy Court for the Southern District of New York (Manhattan)

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