Houston-based Vroom files for Chapter 11 bankruptcy and reorganization
After settling a $3 million lawsuit alleging deceptive trade practices in December and discontinuing e-commerce operations in January, Houston-based Vroom has filed for bankruptcy. The company announced Tuesday the voluntary reorganization will convert about $290 million in unsecured convertible senior notes due in 2026 into new shares of common stock.
Vroom, Once an Automotive Darling, Files for Bankruptcy
The financing and analytics company, no longer in the used-car selling business, plans a debt-for-equity swap backed by Mudrick Capital Management.
Houston online car dealer Vroom files for Ch. 11 bankruptcy, plans to restructure debt
A Houston-based online car dealer filed for bankruptcy to restructure its debt — months after the company shuttered some of its business operations and laid off hundreds of employees.
Car Financing Firm Vroom Files for Chapter 11 in Texas
Automotive financing provider Vroom, Inc., which entered a restructuring support agreement with creditors and its largest stockholder, has filed for bankruptcy.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesNo Water by Year-End for This Zimbabwean City of 700,
Vroom Files for Bankruptcy Amidst Restructuring Efforts
An update from Vroom ( (VRM) ) is now available. Vroom, Inc. has filed for a Prepackaged Chapter 11 bankruptcy in the Southern District of
Vroom to repackage debt ahead of bankruptcy filing
Vroom is restructuring its debt as it prepares to file for bankruptcy protection on the heels of winding down its e-commerce business in January.
Vroom Announces Bankruptcy Filing
Vroom, whose operations include automotive finance, intends to file a number of customary motions with the bankruptcy court that will allow the continuation of normal business operations. Write to Josh Beckerman at [email protected]
Vroom files for Chapter 11 bankruptcy protection
Auto financing firm Vroom (NASDAQ:VRM) filed for Chapter 11 bankruptcy protection on Wednesday in a Texas court as the cash-strapped company attempts to restructure more than $300M in debt. Each note holder will receive new common stock equal to 75% of the face value of notes,
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Vroom Inc. looks to restructure debt after Ch. 11 bankruptcy
Houston-based Vroom's bankruptcy filing comes after the company completed the wind down of its e-commerce and used vehicle ...
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Vroom Stock Plunges On Bankruptcy Plans, But Retail’s Bullish
Shares of automotive lender Vroom Inc. ($VRM) tumbled more than 21% (1:05 p.m. ET) on Wednesday after the company said it ...
Vroom announces decision to enter a RSA with holders of its debt
Vroom (VRM) announced that it has made the strategic decision to enter into a Restructuring Support Agreement, RSA, with holders of an ...
Vroom Announces Equity-for-Debt Recapitalization
Vroom, Inc. (Nasdaq: VRM), a leading automotive finance company and an AI-powered analytics and digital services platform for ...
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Vroom to restructure $290M of unsecured convertible notes into equity
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