Maines Paper & Food Service Files Chapter 11 Bankruptcy

Maines Paper & Food Service Inc., a food service distributor, files for Chapter 11 bankruptcy in Delaware.

• Co. lists assets of as much as $10m and liabilities of at least $100m in its bankruptcy petition
• Lineage Logistics recently acquired substantially all of the operating assets of Maines and its subsidiaries, according to a statement from Maines last month
  • Burger King, Tim Hortons and Darden Restaurants Inc. are among Maines’s customers, per statement
  • Cites “devastating impact” from pandemic on the food service industry
• Co. generates annual revenue exceeding $3.5b, according to its website
• The case is Maines Paper & Food ...