New Chapter 11 Filing – Packable Holdings, LLC. – Lexology

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On August 28, 2022, Hauppauge, N.Y.-based Packable Holdings, LLC, a privately-owned tech-enabled e-commerce company, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10797). The company reports $100 million to $500 million in both assets and liabilities. According to the first day declaration, the company was unable to obtain a long-term solution to its liquidity needs and was forced to commence a wind-down of its operations. Therefore, the company filed for chapter 11 protection to facilitate the sale of its assets and ensure that the wind-down is conducted in an orderly and value-maximizing manner.
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