Fluid Truck Commences Chapter 11 Proceedings to Facilitate Value-Maximizing Sale | PR Newswire [Video]

Operations Continue as Normal Without Interruption to Serve and Support Customers

, /PRNewswire/ — Fluid Truck (the “Company”), a leading provider of tech-enabled flexible fleet rental solutions, today announced it has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. The Company intends to use the bankruptcy process to implement an orderly sale of the business under Section 363 of the Bankruptcy Code to maximize value for all stakeholders while pursuing a strategic transaction aimed at driving future growth. 

In connection with this filing, Fluid Truck has been working with its stakeholders to negotiate the terms of an asset purchase agreement (“APA”) with Kingbee Vans. The Company will be filing motions shortly for approval to proceed with an auction process under court supervision, after which the Company will seek the court’s approval of the sale.

“After evaluating all available options amid significant liquidity …