On November 7, 2022, cloud manufacturing and digital provide chain firm Quick Radius, Inc. of Chicago, IL filed a petition for aid underneath Chapter 11 of the Chapter Code within the Chapter Courtroom for the District of Delaware (Case No. 22-11051). The corporate studies $69.3 million in property and $55.2 million in liabilities. In accordance with the declaration filed in help of the petition and first day pleadings, the Debtors count on their prepetition lenders to consent to the usage of money collateral to fund the case and pursue a sale course of, noting that the proposed type of money collateral order is in “considerably closing” kind. The Debtors sought to acquire debtor-in-possession financing as a part of their prepetition advertising and marketing course of, however at present don’t have any current provides for post-petition funding. The debtors’ bid procedures movement seeks approval of an expedited sale course of culminating in a December 12, 2022 closing with no stalking horse, though their proposed procedures enable for the collection of one.
Cole Schotz doesn’t characterize the Debtors on this case. We’re posting this for informational functions solely. If in case you have obtained a discover and have any questions, it is best to contact Debtors’ counsel.
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