Bankrupt truck-sharing platform Fluid Market Inc. moved to convert its bankruptcy into a trustee-run liquidation, saying it doesn’t have enough cash to fund a further wind-down process and that future recoveries are unlikely.
The company completed a sale of most of its assets to Kingbee Rentals LLC in December in a transaction valued at more than $10 million. But the cost of paying bankruptcy professionals and priority claims is too much to continue the Chapter 11 case, the company said in a motion filed Aug. 8 in the US Bankruptcy Court for the District of Delaware.
“The time has come ...
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