Car Financing Firm Vroom Files for Chapter 11 in Texas
- Vroom filing was made in the Southern District of Texas court
- Firm, creditors agreed to convert $290 million in senior notes
Vroom Inc. posted a $37.7 million net loss in the third quarter.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Automotive financing provider Vroom, Inc., which entered a restructuring support agreement with creditors and its largest stockholder, has filed for bankruptcy.
Vroom filed for Chapter 11 in the Southern District of Texas court. It listed assets of $43.8 million against total debt of $304.6 million in its petition.