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Pilot rescues Flying J
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Truck Trend
Administrator
| Posts: 4654
| Joined: 02/07
Posted: 07/14/09
11:38 AM
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Pilot rescues Flying J
Jul 14, 2009 1:12 PM
Flying J, which has been operating under Chapter 11 bankruptcy proceedings since December, 2008, has reached a preliminary agreement with Pilot Travel Centers, which would allow the operator of truckstops and other businesses to emerge from bankruptcy.
Under terms of the agreement, subject to the U.S. Bankruptcy Court’s approval, Pilot will provide $100 million in debtor-in-possession financing for Flying J’s core travel business operations. The deal does not include any other Flying J assets.
Source: http://fleetowner.com/management/pilot-travel-flying-j-bankruptcy-0714/
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Posted: 07/20/09
10:28 AM
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Seems like everyone's doing Chapter 11 these days.
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bkong
Administrator
| Posts: 599
| Joined: 07/08
Posted: 07/22/09
05:06 PM
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Sort of reminds me of a couple years back when it seemed everyone was suing each other for anything, like the McDonalds hot coffee incident.
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