Kal Freight Inc. files for Chapter 11 bankruptcy protection in the Southern District of Texas, according to a court filing.
- Estimated liabilities: $100m-$500m
- Estimated assets: $100m-$500m
- Intends to fund the chapter 11 process with debtor-in-possession financing, co. says in separate
statement - Intends to continue paying employees in full in the ordinary course, as well as paying vendors and suppliers in full under normal terms for goods and services provided on or after the filing date
- Appoints Bradley Sharp of Development Specialists as chief restructuring officer
(Updates with financing and resturcture details from 3rd bullet.)
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