Aerospace Holdings, d/b/a GroupAero, along with four of its affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-10635). The Debtors’ petition reports $10-50 million in assets and $50-100 million in liabilities. Through its operating subsidiaries, Aerospace Holdings provides engineering, design and manufacturing services to the space, commercial aerospace and defense markets. According to the First Day Declaration of Matthew D. Sedigh, the Debtors’ CRO, the Debtors intend to sell substantially all of their assets. The stalking horse bidder is Harlow Aerostructures LLC. BMCGroup is the proposed claims agent. The case has been assigned to the Honorable Kevin Gross.
Contact Norman L. Pernick and Nicholas J. Brannick for more information.