New Chapter 11 Filing – smarTours, LLC
On October 19, 2020, New York-based travel services provider smarTours, LLC, who offers “a carefully curated collection of 50 tour packages with airfare from the U.S.,” filed a petition with its parent company, SPST Holdings, LLC, for chapter 11 protection in the Bankruptcy Court for the District of Delaware (Case 20-12625). The company reports $1 million to $10 million in assets and $10 million to $50 million in liabilities. A link to the smarTours, LLC Chapter 11 petition can be found here. The board resolutions authorize smarTours to obtain the use of cash collateral and DIP financing in the form of a delayed draw term loan promissory note.
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