this post was submitted on 30 Dec 2025
78 points (98.8% liked)

Economics

1020 readers
26 users here now

founded 2 years ago
78
Port-a-potty company files for bankruptcy to wipe away $2.4bn in debt (www.reuters.com)
submitted 1 week ago by MicroWave@lemmy.world to c/economics@lemmy.world
23 comments fedilink hide all child comments
 

United Site Services, which owns 350,000 portable restrooms, filed for bankruptcy in New Jersey on Monday with a plan to eliminate $2.4 billion in debt and hand control to the company's lenders.

USS, which is owned by private equity firm Platinum Equity Partners, said that a majority of the company's lenders have agreed to support the restructuring plan. Despite the high level of support, one large holdout creditor opposes the plan and could pursue a path of "delay and litigation," according to USS' court filings.

you are viewing a single comment's thread
view the rest of the comments
[–] T00l_shed@lemmy.world 12 points 1 week ago

PE firms strike again