Takeoff Technologies, Inc.

  1. November 06, 2024

    Grocery Co. Takeoff Reaches Deal To Avoid Ch. 7 Conversion

    Grocery automation firm Takeoff Technologies reached a new settlement with its creditors and debtor-in-possession lenders that the debtor says paves the way for a Chapter 11 liquidation of its remaining assets instead of a Chapter 7 conversion

  2. October 18, 2024

    Under The Radar: Bankruptcy News You May Have Missed

    Johnson & Johnson, Imerys Talc, Cyprus Mines, Takeoff Technologies and SunPower Corp. all fielded objections to their Chapter 11 bankruptcies, from their creditors' committees or the Office of the U.S. Trustee or both, with the U.S. Trustee largely raising concerns about overbroad releases.

  3. October 02, 2024

    A Look At Grocery Co. Takeoff's Ch. 11 Winddown Plan

    After five months in Chapter 11, grocery automation firm Takeoff Technologies has proposed a restructuring plan that incorporates a $37 million global settlement and an asset sale strategy that would allow certain lenders to credit-bid on the company's assets with proceeds going to fund the company's winddown.

  4. July 11, 2024

    Grocery Co. Takeoff Inks DIP, Sale Deal With Creditors

    Grocery automation business Takeoff told a Delaware bankruptcy judge Thursday the company reached a deal with its unsecured creditors to end their opposition to its Chapter 11 financing and sale plans, as well as their attempt to force the debtor to liquidate.

  5. July 08, 2024

    Judge Jones To Be Deposed, Giuliani Seeks Ch. 7 Conversion

    The ex-Texas bankruptcy judge whose undisclosed romance with a former Jackson Walker LLP partner sparked an ethics scandal and efforts by the Office of the U.S. Trustee to recoup some $13 million in fees will be deposed; Rudy Giuliani can no longer practice law in New York and asked to convert his personal Chapter 11 bankruptcy to a Chapter 7; and the U.S. Supreme Court's monumental ruling in Purdue has opened questions about other high profile Chapter 11 plans and the authority of bankruptcy courts.

  6. July 05, 2024

    Judge Grants Ch. 11 DIP Extension To Takeoff

    A Delaware bankruptcy judge ordered Friday that bankrupt grocery automation company Takeoff Technologies Inc. be given a second round of interim debtor in possession financing, worth almost $600,000, as the company's Chapter 11 case winds its way to a decision on a controversial final funding approval.

  7. July 03, 2024

    Takeoff Seeks To Alter Ch. 11 Loan To Avoid Liquidation

    Bankrupt grocery automation company Takeoff Technologies was unable to reach a deal with creditors to transfer a software license and instead plans to remove the transfer from its debtor-in-possession loan, in a bid to avoid a conversion to a Chapter 7 liquidation.

  8. July 01, 2024

    Takeoff Ch. 11 Loan Delayed As Creditors Seek Liquidation

    A Delaware bankruptcy judge indicated Monday that he wouldn't give final approval to the debtor-in-possession loan in Takeoff Technologies' Chapter 11 bankruptcy in its current form, giving the grocery automation business more time to negotiate a solution and avoid conversion of its case to a Chapter 7 liquidation.

  9. June 03, 2024

    WeWork Plan Approval, Crypto Update, Giuliani Creditor Fight

    Office space provider WeWork's plan to wipe out $4 billion in debt and end its Chapter 11 case was approved, defunct crypto lending platform Genesis Global Holdco LLC expects to exit bankruptcy in July and the official committee of unsecured creditors in Rudy Giuliani's Chapter 11 has asked a New York bankruptcy judge to hand control of the Republican firebrand's estate to a trustee.

  10. May 31, 2024

    Takeoff Technologies Seeks Customer Funds For Ch. 11 Case

    A Delaware bankruptcy judge told Takeoff Technologies on Friday that he was prepared to approve $9.6 million in Chapter 11 financing from customers trying to avoid losing support for the company's grocery inventory automation software.