TRX filed for Chapter 11 bankruptcy on June 08, 2022, in the U.S. Bankruptcy Court for the Central District of California, Santa Ana Division, and is now seeking a buyer.
U.S. equipment manufacturer TRX is seeking a buyer, effective immediately. On June 08, 2022, the company filed a Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the Central District of California, Santa Ana Division.
The sale transaction will be conducted in an open, court-supervised process designed to maximize value for all stakeholders, TRX announced.
In addition, the restructuring is expected to allow TRX to reduce its debt and adapt more quickly to consumer demand following the pandemic. During the restructuring, the company is expected to continue as a going concern.
The reason for the Chapter 11 filing is increased competition and macroeconomic challenges, according to TRX.
Source : BODYMEDIA
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Published on: 25 July 2022