New Chapter 11 Filing – HDR Holding Inc.
HDR Holding, Inc., a West Chester, PA-based global manufacturer and supplier of branded land-based hydraulic drills and equipment to the mining, oil and gas, water and other end-markets, filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-11396), along with subsidiary Schramm. According to the First Day Declaration, the Debtors seek to sell their assets, with a proposal from prepetition lender GenNx360 to provide $6 million in DIP financing and to serve as the stalking horse bidder for substantially all of the Debtors’ assets. The Debtors have proposed Epiq to serve as their claims and noticing agent. The Debtors report $50 million to $100 million in both assets and liabilities. The cases have been assigned to the Honorable Mary F. Walrath.
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