Alta Equipment Group, Inc. recently submitted a verified petition for relief pursuant to Chapter 11 of the United States Bankruptcy Code. The company, which is a leading provider of construction and industrial equipment, filed the petition in the United States Bankruptcy Court for the District of Delaware.
The company’s filing is intended to facilitate a restructuring of its balance sheet and provide the company with the necessary liquidity to continue operations. Alta Equipment Group is currently in negotiations with its lenders and other stakeholders to reach an agreement on a consensual plan of reorganization.
Alta Equipment Group has been in business for over 50 years and is a leading provider of construction and industrial equipment in the Midwest. The company has a strong customer base and is well-known for its quality products and services.
The filing will not affect Alta Equipment Group’s day-to-day operations, and customers can continue to rely on the company for their equipment needs. The company has also stated that it will continue to honor all customer warranties and service contracts.
Alta Equipment Group’s management team is confident that the company will emerge from this process stronger and better positioned for long-term success. The company is committed to continuing to provide its customers with the same level of quality products and services that they have come to expect from Alta Equipment Group.
The filing of the verified petition for relief is an important step in the company’s restructuring process. Alta Equipment Group is confident that it will be able to reach an agreement with its lenders and other stakeholders on a consensual plan of reorganization that will allow it to emerge from this process stronger and better positioned for long-term success.
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