My Job Matcher: AI Staffing Platform's $35M Credit Bid Sale and Liquidating Plan

My Job Matcher, Inc., the operator of the AI-driven recruitment platform Job.com, filed chapter 11 petitions in Delaware on July 6, 2025, with seven affiliated staffing entities. The jointly administered cases came with approximately $67 million in total liabilities, a proposed $35 million stalking horse credit bid from the secured lenders, and new management installed after a board replacement in May 2025.

With no competing bids emerging at auction, the lender affiliate completed the asset purchase in October 2025. The debtors then filed a combined disclosure statement and plan of liquidation, which was confirmed via cramdown on January 23, 2026, after general unsecured creditors rejected the plan by dollar amount. A liquidating trust was established on the January 30, 2026 effective date to administer remaining assets and pursue avoidance actions against former officers and directors.

Debtor(s)	My Job Matcher, Inc. (8 jointly administered debtors)
Court	U.S. Bankruptcy Court, District of Delaware
Case Number	25-11280
Petition Date	July 6, 2025
Judge	Hon. Karen B. Owens
Confirmation Date	January 23, 2026
DIP Facility	$9.9M senior secured superpriority (Ankura Trust Company as agent; $5.97M new money, $3.87M roll-up; 13.5% interest; 120-day maturity)

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My Job Matcher

What are the key takeaways from “My Job Matcher: AI Staffing Platform's $35M Credit Bid Sale and Liquidating Plan”?

The Job.com Platform and Acquisition Strategy

My Job Matcher, Inc. was incorporated in 2015 as a subsidiary of MJM Tech Ltd., a United Kingdom-based company co-founded by Paul Sloyan and Arran Stewart. The company developed an AI-driven recruitment platform to automate candidate attraction, matching, virtual interviewing, and placement. Its products included autonomous interviewing and qualification tools, interview guides, project management tools, job boards, and reporting and analytics software. Bloomberg Law reported that the company marketed the platform as a digital marketplace for job seekers and employers.

The company's technology portfolio included approximately 39 registered patents and 42 pending patent applications, all filed between September 2021 and August 2023, covering AI-enabled extraction of content and data from candidate video interviews. The debtors also held 257 trade secrets, up to nine pending trademark applications, and over 200 domain names. In September 2023, a non-debtor affiliate, Job.com-Team.ai Inc., acquired the stock of Team.AI Corp., a video-based hiring operating system. Following that acquisition, the debtors retained the former TeamAI software development and leadership teams.

Acquisitions (2020-2022). Beginning in 2020, Job.com pursued a series of acquisitions to pair its digital platform with traditional staffing operations. The company completed its first acquisition with HireVergence, a Tampa-based IT and cybersecurity staffing firm, in 2020. In August 2021, Job.com acquired Fortus Healthcare Resources and Endevis, adding more than $50 million of annual revenue. Fortus, founded in 1993 and based in Utica, New York, specialized in nursing and medical placement with more than 200 contract nurses and 40 recruiters. Endevis provided contract staffing and recruitment process outsourcing across automotive and manufacturing sectors. Later in 2021, QCI Healthcare was acquired, adding $20 million in annual revenue through per diem healthcare worker placements. In 2022, Job.com acquired Princeton Search, a New Jersey-based talent solutions provider, adding more than 130 employees and bringing the company's total to over 300 full-time core employees.

Revenue trajectory. The acquisitions, combined with elevated demand for healthcare staffing during the COVID-19 pandemic, drove revenue to approximately $100 million in 2022. CEO Paul Sloyan described the company as "very acquisitive" during this period, and co-founder Arran Stewart was recognized on SIA's 40 Under 40 list in 2023 for leading the development of Job.com's AI-driven matching algorithm and executing five acquisitions. The company also secured IP-backed growth financing from Serengeti Asset Management and Ghost Tree Partners in November 2022, expanding an earlier financial partnership intended to fund technology development and further acquisitions. Serengeti and SOJA Ventures had previously provided financing.

Healthcare staffing demand declined after the COVID-19 surge. Revenue fell to approximately $33 million in 2024, with a projection of $15 million for 2025. The company also sold its recruitment process outsourcing business for less than book value, according to the debtors' cash collateral materials.

Top creditors. The largest unsecured creditors included Riveron Consulting (~$2.1 million), SOJA Ventures (~$1.6 million), Lucosky Brookman LLP (~$864,000), LinkedIn (~$562,000), and Indeed (~$218,000).

Financial Distress and Management Overhaul

The First Day Declaration says the company expanded through acquisitions and did not control costs across the acquired business lines.

Overexpansion without cost control. Between 2020 and 2022, Job.com acquired five staffing companies and spent significant resources integrating those operations. The company failed to control costs across the newly acquired business lines, and revenue growth driven by COVID-era healthcare staffing demand proved temporary.

Former management dysfunction. The declaration says operations under former management involved "disorganized and, at times chaotic, stewardship." It cites payroll and payroll tax errors, multiple transactions that purported to sell or pledge the same collateral, and decentralized recordkeeping. Paul Sloyan and Arran Stewart served as officers and directors until approximately May 7, 2025. Staffing industry publication Job Board Doctor reported that a former Fortus Healthcare employee publicly questioned CEO Arran Stewart about unpaid workers on LinkedIn before the filing.

Capital structure. As of the petition date, the debtors' obligations included:

Facility	Lender(s)	Amount
Prepetition Credit Agreement	Serengeti, GT Partners, GT Monterey Cypress (Agent: Ankura Trust)	$42.2M principal
Venture Debt	Venture Debt, LLC	~$1.5M
Merchant Cash Advances	Gold Capital USA, Cedar Advance, Capital Assist	~$608K (disputed)
SOJA Notes	SOJA Ventures LLC	~$2.5M
Trade and Unsecured	Various	~$20M

The prepetition credit agreement, entered into in November 2022, was secured by first-priority liens on all debtor assets. MJM Tech Ltd. also granted a stock pledge of its entire equity interest in My Job Matcher, Inc. The SOJA notes were allegedly unsecured because collateral rights were contingent upon not violating the prepetition credit agreement.

Liquidity crisis and defaults. Beginning in 2023, the debtors were unable to make principal and interest payments under the prepetition credit agreement. A forbearance agreement with the prepetition lenders expired on January 31, 2024. Gold Capital USA, one of the merchant cash advance providers, garnished certain bank accounts, and a separate judgment creditor, Commercial Investigations LLC, also garnished debtor accounts.

Merchant cash advances. The debtors had entered into merchant cash advance agreements with Gold Capital USA, Cedar Advance LLC, and Capital Assist, LLC. Although styled as sales of future receipts, the debtors said the MCAs were loans. Approximately $608,000 remained outstanding as of the petition date. Gold Capital USA had garnished debtor bank accounts before the filing.

Business unit closures. The QCI staffing business was shuttered in February 2025 after the company failed to pay wages. Princeton Search L.L.C. and Job.com-QCI, Inc. were no longer operating entities as of the petition date. The assets of PrincetonOne were sold to Hueman People Solutions in June 2024. As of the petition date, the debtors had approximately 21 full- and part-time employees and approximately 60 seasonal or temporary employees, down from over 300 at the company's peak following the Princeton Search acquisition.

Governance overhaul (May 2025). On May 7, 2025, the prepetition agent Ankura Trust Company exercised its rights under the stock pledge to remove the existing board and appoint new leadership. David Mack became sole independent director. Robert J. Corliss of CorlissMoore & Associates became CEO, with Benjamin Gross as chief administrative officer and Robert Corliss, Jr. as chief operating officer. The new management team obtained approximately $3.87 million in bridge financing from the prepetition secured lenders beginning in April 2025, opened new bank accounts, and funded payroll with tax withholdings.

First-Day Relief and DIP Financing

The eight debtor entities — My Job Matcher, Inc., Job.com-HV, Inc. (Delaware), Job.com-HV, Inc. (Florida), Job.com-Fortus, Inc., Job.com-Endevis, Inc., Job.com-QCI, Inc., Princeton One-Job.com, Inc., and Princeton Search L.L.C. — filed chapter 11 petitions on July 6, 2025. The court entered an order authorizing joint administration on July 8, 2025. First-day motions were heard the same day, and the court entered interim orders authorizing continued use of the cash management system, payment of prepetition employee wages and benefits, payment of critical vendor claims, and payment of prepetition taxes.

The 341(a) meeting of creditors was scheduled for August 15, 2025, conducted by telephone.

DIP facility. The debtors obtained a senior secured superpriority DIP facility of up to $9.9 million from the prepetition lenders — Serengeti Multi-Series Master LLC-Series ARR, GT Partners Private Credit Finance LLC, and GT Monterey Cypress Finance LLC — with Ankura Trust Company as agent. The facility consisted of approximately $5.97 million in new money and a $3.87 million dollar-for-dollar roll-up of prepetition bridge financing (subject to entry of a final order). The facility carried a 13.5% interest rate and matured 120 days from the petition date. An interim draw of up to $2 million was authorized immediately upon entry of the interim DIP order on July 8, 2025.

The final DIP order was entered on July 29, 2025. The initial DIP budget covered a 13-week period from the petition date.

Under the Global Settlement Agreement reached later in the case, the DIP lenders provided an additional $380,000 in financing to fund the estates through the plan effective date.

Key professionals. The debtors retained Morris James LLP as counsel (Jeffrey R. Waxman), Configure Partners, LLC as investment banker, and CorlissMoore & Associates as financial advisor and interim management. Stretto, Inc. was retained as claims and noticing agent. The official committee of unsecured creditors retained Greenberg Traurig, LLP as counsel.

Objection to first-day relief. Venture Debt, LLC and SOJA Ventures, LLC filed an omnibus objection on July 22, 2025, challenging the DIP motion, the sale motion, and other first-day relief. Venture Debt held approximately $1.5 million in loans to the debtors, while SOJA Ventures held approximately $2.46 million in allegedly unsecured notes.

The debtors also filed a motion to abandon property on July 16, 2025, seeking authorization to abandon certain assets of limited value under Section 554(a) of the Bankruptcy Code.

Section 363 Sale Process

The debtors filed their sale motion on July 8, 2025, seeking approval of bidding procedures and a stalking horse asset purchase agreement with Job.com Acquisition Co., LLC, an affiliate of the prepetition secured lenders. The purchase price consisted of a $35 million credit bid — releasing the debtors from all liabilities under the prepetition credit agreement — plus assumption of assumed liabilities and payment of cure costs.

Bidding procedures. The court entered a sale scheduling order on July 28, 2025, followed by an amended scheduling order on August 5, 2025, setting an auction for September 23, 2025. The proposed sale covered substantially all assets, including the AI recruitment platform, patent portfolio, domain names, trade secrets, and staffing operations.

Bloomberg Law reported that the company aimed to sell domains and AI job interview software, noting that three lenders — Serengeti, GT Partners, and GT Monterey Cypress — had submitted the $35 million opening bid. The sale process ran through Configure Partners, LLC as investment banker.

Auction cancelled. No competing bids were received by the bid deadline. The auction was cancelled on September 18, 2025, and the stalking horse bidder was designated as the purchaser. A proposed sale order was filed September 26, 2025, along with the debtors' witness and exhibit list for the sale hearing.

Sale hearing and order. The sale hearing was held on September 29, 2025. The court entered the sale order on October 6, 2025, approving the sale free and clear of all encumbrances other than assumed liabilities and permitted encumbrances. The sale closed on October 7, 2025. The court found that the purchaser was a good faith buyer under Section 363(m) of the Bankruptcy Code and that the auction process was conducted in a non-collusive and fair manner. Neither the debtors nor the buyer engaged in conduct that would cause the stalking horse APA to be avoided under Section 363(n).

Acquired assets. The purchaser acquired substantially all of the debtors' assets, including the core AI-interview technology platform, 39 registered patents, 42 pending patent applications, 257 trade secrets, trademark applications, and over 200 domain names. On the closing date, the DIP obligations — including funds advanced during the case — were tendered as payment for the purchased assets, resulting in full payoff and settlement of the DIP obligations.

Committee objection and resolution. The official committee of unsecured creditors objected to the sale motion. The objection was resolved through the Global Settlement Agreement, which provided for a $500,000 escrow contribution for unsecured creditors and other concessions. Informal objections from three individual creditors — Michael Maurizio, Robert King, and Paul Olynar — were also considered.

After the sale closed, a dispute arose over the purchaser's correct legal name. An order modifying the sale order was entered on February 19, 2026, correcting the name from "Job.com Acquisition Co., LLC" to "Jobs Acquisition Co. LLC."

Global Settlement and Unsecured Creditor Recovery

The confirmation order approved a Global Settlement Agreement among the debtors, the committee of unsecured creditors, and the DIP secured parties. The settlement terms included:

UCC escrow contribution. The DIP secured parties transferred $500,000 into escrow on the sale closing date for the benefit of unsecured creditors. These funds transferred to the Liquidating Trust on the funding date.

Additional DIP financing. The DIP secured parties provided an additional $380,000 in DIP financing to fund the estates from the sale closing through the plan effective date.

Allowed prepetition secured claim. The DIP secured parties received an allowed prepetition secured claim of $40,833,011.30, with a waiver of any right to receive payment or recovery on account of any deficiency claim.

Proceeds clawback. If the DIP secured parties sell the acquired assets within 12 months for net proceeds exceeding (i) their total prepetition debt plus accrued interest and (ii) the total capital contributed to the acquisition vehicle by more than 5%, remaining proceeds must be turned over to the Liquidating Trust for the benefit of unsecured creditors.

Retained causes of action. The estates' remaining claims and causes of action — including potential avoidance actions under Sections 547 and 548 against former officers and directors — were transferred to the Liquidating Trust. Claims waived or compromised under the Global Settlement Agreement were excluded from the transfer.

Release of DIP secured parties. Upon the funding date, the debtors' estates released the DIP secured parties from all claims, causes of action, and challenges related to the prepetition credit agreement, DIP financing, and the credit bid transaction.

Plan of Liquidation and Confirmation

The debtors filed the initial version of the combined disclosure statement and plan of liquidation on November 18, 2025, followed by a solicitation version on December 12, 2025. The plan established a Liquidating Trust to monetize remaining assets and distribute proceeds to holders of allowed claims.

Plan classification and treatment. The plan classified claims and interests into six classes, with treatment determined through the Global Settlement framework:

Class	Name	Treatment	Status
Unclassified	Administrative Expenses	Paid in full from Initial Distribution Fund	N/A
1	Priority Non-Tax Claims	Pro rata share of Trust Interests	Impaired
2	Priority Tax Claims	Paid in full including interest before lower-priority claims	Impaired
3	Secured Claims	Return of collateral or cash in full	Unimpaired
4	Serengeti/Ghost Tree Claim	Pro rata share of Liquidating Trust Assets (excluding Initial Distribution Fund)	Impaired
5	General Unsecured Claims	Pro rata share from Initial Distribution Fund and Unsecured Claim Distribution Fund	Impaired
6	Equity Interests	Canceled; no distribution	Impaired

Voting results. The voting deadline was January 14, 2026. Class 1 (Priority Non-Tax Claims) accepted the plan with 92.9% of ballots representing 95.4% of the claim amount. Class 4 (Serengeti/Ghost Tree Claim) accepted with the sole ballot received. Class 5 (General Unsecured Claims) voted 82.1% in favor by ballot count, but only 63.8% in favor by dollar amount ($1,529,318 of $2,397,168), falling short of the required two-thirds-in-amount threshold. Class 2 (Priority Tax Claims) received no votes. Class 3 (Secured Claims) was deemed to accept. Class 6 (Equity Interests) was deemed to reject.

Cramdown confirmation. Because Class 5 rejected the plan by amount and Class 6 was deemed to reject, the court confirmed the plan under Section 1129(b) of the Bankruptcy Code (cramdown). The court found the plan did not discriminate unfairly against Class 5 or Class 6 and was fair and equitable with respect to both classes. The confirmation hearing was held on January 22, 2026. Lauren Brodock filed an objection to confirmation the same day. The debtors filed a memorandum of law and a confirmation declaration by Robert J. Corliss in support of plan confirmation on January 19, 2026.

The court's findings of fact and conclusions of law stated that the plan was the only plan filed in the cases and the only plan found to satisfy the requirements of Sections 1129(a) and (b). The court found that the implementation activities had been designed and proposed in good faith, were adequate, and would promote the maximization of value of recoveries under the plan. The debtor releases were found to be fair, equitable, and reasonable, and the exculpation provision was appropriate because the exculpated parties were fiduciaries and no exculpated party was exculpated for actual fraud, willful misconduct, or gross negligence.

Substantive consolidation. The plan provided for substantive consolidation of the eight debtor estates solely for voting, confirmation, and distribution purposes.

Liquidating Trust. SC&H Group Inc. was appointed as Liquidating Trustee. The trust received the Initial Distribution Fund, remaining assets, and retained causes of action on the effective date. The Liquidating Trust's purpose is to liquidate remaining estate assets, reconcile and object to claims, and distribute proceeds to holders of allowed claims in accordance with the plan's priority scheme.

Effective date. The plan became effective on January 30, 2026. All debtor estate property constituting Liquidating Trust Assets vested in the Liquidating Trust free and clear of all claims and liens.

Key post-confirmation dates:

• Administrative Claims Bar Date: March 2, 2026
• Professional Fee Claims Bar Date: March 16, 2026
• Rejection Damages Claims Bar Date: March 2, 2026

Case timeline. From petition to plan effective date, the case lasted approximately 208 days:

Date	Event
July 6, 2025	Chapter 11 petitions filed
July 8, 2025	First-day hearing; interim orders entered; sale motion filed
July 28, 2025	Final DIP order entered
September 18, 2025	Auction cancelled; stalking horse designated as purchaser
October 6, 2025	Sale order entered
October 7, 2025	Sale closed
December 12, 2025	Solicitation version of combined plan filed
January 14, 2026	Voting deadline
January 23, 2026	Plan confirmed
January 30, 2026	Plan effective date; Liquidating Trust established

Frequently Asked Questions

Why did Job.com file chapter 11?

My Job Matcher, Inc. (Job.com) filed chapter 11 after revenue declined from approximately $100 million in 2022 to a projected $15 million for 2025. The company had expanded through five acquisitions between 2020 and 2022 and later reported cost-control problems, payroll tax issues, and vendor disputes. Secured lenders replaced the board in May 2025, and the cases proceeded with a lender-backed sale process.

What assets were sold in the chapter 11 case?

Substantially all of the debtors' assets were sold to Jobs Acquisition Co. LLC (an affiliate of the prepetition secured lenders) for a $35 million credit bid. The acquired assets included the AI-driven recruitment platform, 39 registered patents, 42 pending patent applications, 257 trade secrets, trademark applications, and over 200 domain names.

What is the claims bar date?

The general claims bar date notice was filed September 29, 2025. The administrative claims bar date is March 2, 2026, and the professional fee claims bar date is March 16, 2026.

What will unsecured creditors receive?

Holders of allowed general unsecured claims (Class 5) will receive their pro rata share of the Trust Interests, allocated from the Initial Distribution Fund (after higher-priority claims) and the Unsecured Claim Distribution Fund. The DIP secured parties contributed $500,000 into escrow for the benefit of unsecured creditors under the Global Settlement Agreement. Additional recoveries may come from the Liquidating Trust's monetization of remaining assets and prosecution of avoidance actions.

What happened to the company's employees?

As of the petition date, the debtors had approximately 21 full- and part-time employees and 60 seasonal or temporary workers, down from over 300 full-time employees at the company's peak. The QCI staffing business was shuttered in February 2025, and PrincetonOne was divested in June 2024. The court authorized payment of prepetition employee wages and benefits as part of the first-day relief.

What is the Liquidating Trust?

The Liquidating Trust was established on January 30, 2026 with SC&H Group Inc. as Liquidating Trustee. The trust holds remaining estate assets and retained causes of action, including potential avoidance actions against former officers and directors. The trustee is responsible for liquidating assets, resolving claims, and making distributions to holders of allowed claims.

Who purchased Job.com's assets?

Jobs Acquisition Co. LLC, an entity affiliated with the prepetition secured lenders (Serengeti Multi-Series Master LLC-Series ARR, GT Partners Private Credit Finance LLC, and GT Monterey Cypress Finance LLC), purchased substantially all assets through a $35 million credit bid. The sale closed on October 7, 2025. The purchaser's name was initially filed as "Job.com Acquisition Co., LLC" and later corrected to "Jobs Acquisition Co. LLC" by court order.

What is the proceeds clawback provision?

Under the Global Settlement Agreement, if the purchaser resells the acquired assets within 12 months for net proceeds exceeding the total prepetition debt plus accrued interest and total capital contributed by more than 5%, the remaining proceeds must be turned over to the Liquidating Trust for the benefit of unsecured creditors.

Who are the key professionals in the case?

Morris James LLP (Jeffrey R. Waxman) served as debtors' counsel. Robert J. Corliss of CorlissMoore & Associates served as CEO and financial advisor. Configure Partners, LLC served as investment banker. Greenberg Traurig, LLP represented the official committee of unsecured creditors. Allen Overy Shearman Sterling US LLP and Geoffrey T. Raicht PC represented the prepetition and DIP lenders.

Who is the claims agent for My Job Matcher?

Stretto, Inc. serves as the claims and noticing agent. The court-authorized role in this case anchors creditor notices and claims-register administration to the filed retention and noticing record.

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