AeroCision Seeks to Pay Suppliers $5 Million Amid Bankruptcy

Network AssociationBehind the WheelCollectionsMoney Matters
Written By Jennifer Joslyn

✈️ AeroCision Seeks to Pay Suppliers $5 Million Amid Bankruptcy.

AeroCision, an aerospace supplier, has received interim court approval to pay critical vendors up to $5 million, including recent shipments made before filing for Chapter 11 bankruptcy. The company is facing revenue shortfalls, supply chain disruptions, and debt. It highlights material suppliers and service providers that are essential to its operations during the restructuring process. The decline in revenue is attributed to travel restrictions and reduced demand caused by the COVID-19 pandemic. AeroCision seeks to reorganize and restructure its debt to continue operations. The company's financial challenges mirror those of other players in the aerospace industry.

Read more from Supply Chain Dive ▶

Featured
California Freight Forwarder Boateng Logistics Files for Bankruptcy, Leaving Industry Stakeholders Millions in Debt
California Freight Forwarder Boateng Logistics Files for Bankruptcy, Leaving Industry Stakeholders Millions in Debt

A California-based freight forwarder, Boateng Logistics, has filed for bankruptcy liquidation, leaving trucking, logistics, and factoring companies owed millions.

Yellow Corp. Asset Acquisition Bid Rekindled
Yellow Corp. Asset Acquisition Bid Rekindled

A bid to acquire the remaining assets of bankrupt Yellow Corp. might be back on track, as a ballot sent to local union heads suggests.

Lessons Can Be Learned from Tesla's Success and Arrival's Demise
Lessons Can Be Learned from Tesla's Success and Arrival's Demise

Starting a new automaker is no easy feat, and it's been a rarity in the last four decades. It's not just about designing a car but also establishing the necessary infrastructure.

Yellow Trucking Repays Contentious $700M Covid Loan Amidst Bankruptcy Fallout
Yellow Trucking Repays Contentious $700M Covid Loan Amidst Bankruptcy Fallout

Bankrupt trucking giant Yellow has announced it has fully paid back a contentious $700 million Covid loan from the U.S. Treasury Department, along with over $151 million in interest.

WeWork's Co-Founder Adam Neumann Expresses Disappointment Over Chapter 11 Filing, Envisions Reorganization for Success
WeWork's Co-Founder Adam Neumann Expresses Disappointment Over Chapter 11 Filing, Envisions Reorganization for Success

WeWork co-founder and former CEO Adam Neumann expressed disappointment over the company's Chapter 11 bankruptcy filing, stating his belief that with the right strategy and team, a reorganization could lead to success.

WeWork Shares Plummet as Bankruptcy Reports Loom
WeWork Shares Plummet as Bankruptcy Reports Loom

WeWork's stock price dropped nearly 50% to a record low amid reports that the company is considering filing for bankruptcy next week.

Rite Aid Files for Bankruptcy Amid Debt Woes and Opioid Litigation
Rite Aid Files for Bankruptcy Amid Debt Woes and Opioid Litigation

Rite Aid, a debt-laden U.S. pharmacy chain, has filed for bankruptcy protection and plans to close underperforming stores, sell its pharmacy benefit subsidiary Elixir, and address lawsuits related to the sale of addictive opioid medications.

Estes Selected as Stalking Horse Bidder for Yellow's Terminal Assets
Estes Selected as Stalking Horse Bidder for Yellow's Terminal Assets

Estes has been officially approved as the real estate stalking horse bidder for Yellow's terminals, setting the minimum valuation for these assets in the bankruptcy proceedings.

Teamsters Union Calls for Senate Investigation into Yellow Corp's Bankruptcy Proceedings
Teamsters Union Calls for Senate Investigation into Yellow Corp's Bankruptcy Proceedings

The Teamsters Union has called on the Senate to investigate the bankruptcy proceedings of Yellow Corp.

Yellow Corp.'s Real Estate Auction Could Maximize Value Through Competitive Bidding
Yellow Corp.'s Real Estate Auction Could Maximize Value Through Competitive Bidding

It can be a very value-maximizing process," says bankruptcy attorney George Singer about the potential bidding war for Yellow Corp.'s real estate.

AeroCision Seeks to Pay Suppliers $5 Million Amid Bankruptcy
AeroCision Seeks to Pay Suppliers $5 Million Amid Bankruptcy

AeroCision, an aerospace supplier, has received interim court approval to pay critical vendors up to $5 million, including recent shipments made before filing for Chapter 11 bankruptcy.

Teamsters Refute Yellow's Accusation of Union Involvement in Trucking Firm's Bankruptcy
Teamsters Refute Yellow's Accusation of Union Involvement in Trucking Firm's Bankruptcy

The International Brotherhood of Teamsters has rejected Yellow Corp.'s attempt to blame the union for the company's financial troubles leading to bankruptcy.

The Yellow Corp Legacy Ends with Bankruptcy and Job Losses
The Yellow Corp Legacy Ends with Bankruptcy and Job Losses

Yellow Corp., a prominent US trucking company with a history of nearly 100 years, has filed for bankruptcy, leading to the closure of its business and leaving 30,000 employees without jobs.

Overstock's Bed Bath & Beyond Rebrand Attracts New Suppliers
Overstock's Bed Bath & Beyond Rebrand Attracts New Suppliers

Overstock's acquisition of Bed Bath & Beyond's intellectual property in a bankruptcy auction for over $20 million in June has proven to be a boon for the company.

Yellow Closure Disrupts LTL Sector
Yellow Closure Disrupts LTL Sector

Less-than-truckload carrier Yellow Corp. has ceased operations after nearly 100 years in business, leading to disruptions in the broader LTL market.

Yellow Freight Closure Causes Devastating Loss of 30,000 Union Trucking Jobs
Yellow Freight Closure Causes Devastating Loss of 30,000 Union Trucking Jobs

Yellow Freight, one of the nation's largest trucking companies, recently closed down, leaving nearly 30,000 union truckers jobless.

TFI Experiencing Surge in Shipments Following Yellow's Closure
TFI Experiencing Surge in Shipments Following Yellow's Closure

TFI International's U.S. less-than-truckload operation, TForce Freight, experienced a significant increase in daily shipments, around 3,000, following the announcement of rival Yellow Corp.'s closure.

Incora, in Bankruptcy, Seeks to Retrieve Shipments from Resistant Supplier
Incora, in Bankruptcy, Seeks to Retrieve Shipments from Resistant Supplier

Aerospace supply chain specialist Incora, which filed for bankruptcy in June, is facing difficulties with a resistant supplier, Appli-Tec.

Yellow's Possible Insolvency and Teamsters' Opposition Raise Concerns for LTL Trucking Segment
Yellow's Possible Insolvency and Teamsters' Opposition Raise Concerns for LTL Trucking Segment

The possibility of a strike at UPS and the potential insolvency of Yellow, a prominent less-than-truckload (LTL) trucking company, has raised concerns among analysts about the impact on the parcel and LTL segments.

Yellow Corp's Failure to Make Pension Contributions Heightens Risk of Strike and Potential Shutdown
Yellow Corp's Failure to Make Pension Contributions Heightens Risk of Strike and Potential Shutdown

Yellow Corp, a less-than-truckload carrier, has failed to make its required pension contributions for June and plans to withhold payments for July, leading the Teamsters union to threaten a strike.

Lordstown Motors' Bankruptcy Filing and Legal Battle with Foxconn over Funding Deal
Lordstown Motors' Bankruptcy Filing and Legal Battle with Foxconn over Funding Deal

Lordstown Motors, the struggling electric-truck maker, has filed for Chapter 11 bankruptcy protection and has initiated a lawsuit against Foxconn, accusing the Taiwanese manufacturer of breaching an agreement to provide additional funding.

Woke = Broke?
Woke = Broke?

Bud Light, produced by Anheuser-Busch, is the latest company caught in America's ongoing culture wars.

Instant Pot Maker Suffers from Supply Chain Pressures
Instant Pot Maker Suffers from Supply Chain Pressures

Instant Brands, the maker of the popular Instant Pot cooker and Pyrex glassware, has filed for Chapter 11 bankruptcy protection due to ongoing financial struggles caused by supply chain pressures.

The Downfall of Bed Bath & Beyond
The Downfall of Bed Bath & Beyond

Years before filing for bankruptcy, the retailer bet on private labels, and when that failed, they focused on stock buybacks.

Party City is no longer partying
Party City is no longer partying

The retailer filed for Chapter 11 bankruptcy after a series of competitive challenges struck the business, including social gatherings being shunned over the pandemic era and inflation costing the company.

South American Beef Inc. has filed for Chapter 11 bankruptcy
South American Beef Inc. has filed for Chapter 11 bankruptcy

The West Des Moines, Iowa-based frozen meat importer filed its petition with the U.S. Bankruptcy Court last week, leaving many trucking and logistics firms out to dry.

Jennifer Joslyn
Previous

Smart Technology Ensures Green Lights for Freight Transportation
Next

Teamsters Refute Yellow's Accusation of Union Involvement in Trucking Firm's Bankruptcy