An update from Vroom ( (VRM) ) is now available.
Vroom, Inc. has filed for a Prepackaged Chapter 11 bankruptcy in the Southern District of Texas, aiming to restructure its outstanding debt and capital structure. The company will operate under debtor-in-possession status, while seeking approval for motions to maintain operations. A Restructuring Support Agreement was reached with major creditors and shareholders to reorganize debt through a prepackaged plan, which will be voted on by eligible creditors and equity holders. The case halts immediate payment obligations under the company’s existing notes, with a comprehensive restructuring plan to follow.
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