Dog-Walking App Wag! Gets Nod to Try for Speedy Bankruptcy Exit

Dog walking service Wag! Group Co. won court permission to try to slash debt and hand control to senior creditor Retriever LLC as early as next month under bankruptcy rules that let companies speed through an insolvency case quicker-than-normal when they have the backing of creditors.

The company collected votes of creditors before filing for bankruptcy on Monday, according to court documents. With a so-called prepackaged bankruptcy, a company will negotiate a reorganization plan, win creditor backing and arrange any new financing it needs before filing its Chapter 11 petition.

Wag said in filings it has between $10 million ...