Coach USA Initiates Voluntary Chapter 11 Sale Processes to Maximize Value of Its Businesses [Yahoo! Finance]
Houlihan Lokey, Inc. Class A (HLI)
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Source: Yahoo! Finance
PARAMUS, N.J. June 11, 2024 /PRNewswire/ -- Coach USA (the "company"), a leading provider of passenger transportation and mobility services, today announced that it commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to facilitate sale processes to preserve jobs, ensure continued service and maximize the value of its businesses. As part of the court-supervised sale processes, the company: Entered an asset purchase agreement with an affiliate of The Renco Group, Inc., Bus Company Holdings US, LLC ("BCH US"), for certain of the company's bus lines – Dillon's, Elko , Megabus Retail, Montreal Olympia , Trentway/ Ontario (including Megabus Canada), Perfect Body, Rockland , Shortline (including Chenango Valley Bus Lines), Suburban, Van Galder and Wisconsin Coach – as well as certain assets of Community Coach. The existing Megabus intellectual property and retail operations will also be part of the transaction. U.S. Megabus operations will
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