Beavex Holding Corporation, along with four subsidiaries and affiliates, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-10316). Beavex, headquartered in Atlanta, Georgia, is a nationwide provider of time-critical transportation and logistics services. According to the First Day Declaration, Beavex has filed as a result of costs overruns and limited ability to raise additional capital. A press release issued by Beavex discloses that Beavex intends to sell substantially all of its assets, with certain affiliates of TFI International, Inc. serving as stalking horse. The Bid Procedures Motion can be found here. Stretto is the proposed claims and noticing agent. The cases have been assigned to the Honorable Laurie Selber Silverstein.
Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.