Zips Car Wash, LLC
Case Number:
8:25-bk-80069
Court:
Nature of Suit:
Firms
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April 18, 2025
Zips Car Wash Gets OK For $279M Debt-Swap Ch. 11 Plan
A Texas bankruptcy judge on Friday approved Zips Car Wash's $279 million debt-swap reorganization, overriding the U.S. Trustee's office's arguments against the plan's claims releases for third parties.
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April 15, 2025
US Trustee Goes After Releases In Zips Car Wash Ch. 11 Plan
The Office of the U.S. Trustee urged a Texas bankruptcy judge to reject Zips Car Wash's plan to wash away some $279 million in debt, saying the updated Chapter 11 plan contains nonconsensual third-party releases.
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April 15, 2025
Stiff Competition, Rate Hikes Drove Zips Car Wash Into Ch. 11
Zips, one of the largest car wash operators in the country, found itself in bankruptcy court earlier this year as the company struggled due to increasing competition, high interest rates, a heavy debt load, an unwieldy real estate portfolio and the aftermath of a hurricane in September, according to its case filings.
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April 03, 2025
Meet The Attys Helping Zips Car Wash Through Ch. 11
Zips Car Wash LLC has put together a roster of attorneys from Gray Reed and Kirkland & Ellis LLP to help steer it through Chapter 11 as it seeks votes on a restructuring plan that would involve a debt for equity trade.
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March 18, 2025
Zips Cleared For Ch. 11 Vote After Striking $5M Creditor Deal
A Texas bankruptcy judge on Tuesday sent Zips Car Wash LLC's Chapter 11 plan out for an April creditor vote with a settlement that could bring up to $5 million in recoveries for unsecured creditors.
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February 24, 2025
Zips Car Wash Gets 4-Member Ch. 11 Creditor Committee
The U.S. Department of Justice's bankruptcy watchdog named landlords and trade vendors to advocate for unsecured creditors slated to get no recoveries in the Texas Chapter 11 of Zips Car Wash.
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February 11, 2025
Catching Up With New Bankruptcy Case Action
Zips Car Wash filed for Chapter 11 in Texas with $654 million in debt, struggling with liquidity from competition and rising interest rates. Omega Therapeutics filed for bankruptcy with $140 million in debt and a restructuring plan with its shareholders. White Forest Resources filed for Chapter 11 due to production and shipping issues and plans to sell one of its two mines in West Virginia.
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February 07, 2025
Zips Car Wash On Track For April Ch. 11 Plan Hearing
A Texas bankruptcy judge Friday gave Zips Car Wash permission to draw on $20 million in Chapter 11 financing under terms that will see the vehicle-cleaning chain seeking court approval for its equity-swap restructuring plan by mid-April.