Thrasio Files for Chapter 11 as Part of Deal to Restructure Debt

Thrasio Holdings Inc. has filed for Chapter 11 as part of a deal with lenders to provide it with fresh capital and get rid of about $495 million of debt.

The company, a Amazon.com Inc. seller, initiated the process in New Jersey, according to a filing dated Feb. 28. It is seeking to pay employees’ wages, as well as suppliers, while the case is ongoing.

The restructuring support agreement reached with lenders of both its revolving-credit facility and its term loan, will see Thrasio’s interest payments delayed for a year. Some creditors have committed as much as $90 million in ...