New Chapter 11 Filing – Stanadyne LLC
On February 16, 2023, Stanadyne LLC, a Jacksonville, North Carolina-based developer and manufacturer of fuel pumps and fuel injectors for diesel and gasoline engines, along with certain affiliates filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 23-10207). The company reports $100 million in both assets and liabilities. According to the first day declaration, the filing resulted from COVID-19 spurred supply chain issues and the increasing cost of financing. The Debtors will seek authority to use cash collateral and have not yet stated whether they intent to obtain DIP financing.
Cole Schotz does not represent the Debtors in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtors’ counsel.
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