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Industrials & manufacturing coverage - ElevenFlo

Industrials & manufacturing coverage

94 articles

Week of April 13, 2026

Ascend Elements: $1.5 Billion Battery Recycler Pursues 363 Sale After DOE Grant Cancellation

Ascend Elements, a lithium-ion battery recycler valued at $1.5 billion, filed chapter 11 in S.D. Tex. on April 9, 2026, pursuing a 363 sale after the DOE cancelled $110M of a $316M grant for its Kentucky facility. Jefferies is running the sale process; no DIP facility at filing.

Week of March 30, 2026

Pretium Packaging: 26-Day Prepack Eliminates $900M in Funded Debt

Pretium Packaging, a Clearlake Capital-backed rigid plastic packaging manufacturer, filed a prepackaged chapter 11 in New Jersey on January 28, 2026. The plan confirmed in 26 days, reducing $1.836 billion in funded debt by more than $900 million while leaving general unsecured creditors unimpaired.

Swiftships Files Chapter 11 After Navy Terminates $152.5M LCU 1700 Contract

84-year-old Louisiana shipbuilder Swiftships filed chapter 11 on March 18, 2026 (W.D. La., Case No. 26-50237) after the Navy terminated its LCU 1700 contract in February 2024. The freefall filing followed a December 2025 receivership. Assets and liabilities each $10M–$50M.

Week of March 23, 2026

Ultinon Motion: $238M Acquisition Collapses Into Litigation Trust

Ultinon Motion Holding B.V. and two affiliates filed chapter 11 in S.D. Tex. after FBG-appointed management allegedly transferred tens of millions out of the $238M Lumileds acquisition. With $3.4M in cash and subsidiaries insolvent in four countries, the debtors pursue a litigation trust plan.

Marelli Chapter 11: Proposed Plan and October Deadlines

Marelli’s proposed plan sets tranche-specific recoveries after a DIP amendment. Disclosure-statement and challenge deadlines fall in October 2026.

Week of March 16, 2026

Incora: Landmark Uptier Litigation and Chapter 11 Reorganization

Incora's chapter 11 combined a debt-cutting reorganization with landmark litigation over its 2022 uptier transaction, making the case a major reference point for liability management disputes.

Vroom: Holding-Company Prepack Equitizes $290M Convertible Notes

Vroom’s SDTX prepack chapter 11 equitized ~$290M of convertible notes at the parent while subsidiaries like UACC and CarStory stayed out of court.

Desktop Metal: $179 Million Merger to $7 Million Sale

Desktop Metal filed chapter 11 117 days after Nano Dimension bought it for $179.3 million. A 64-day liquidation sold core assets for $7 million.

Hardinge Inc.: Precision Machine Tool Maker's $100M Credit Bid Sale and Liquidation

Hardinge Inc., a precision machine tool manufacturer with 130+ years of history, filed chapter 11 in Delaware after Chinese regulators blocked a critical asset sale. Centre Lane Partners purchased the secured debt, provided DIP financing, and credit bid $100M to acquire substantially all assets.

Remington Outdoor Company: Asset Sales and Liquidating Plan

Remington Outdoor Company's 2020 chapter 11 in Alabama combined a fast multi-buyer section 363 sale with a liquidating plan that placed unsecured and tort recoveries into separate trust structures. The plan was confirmed on March 12, 2021 and remained in post-confirmation administration in 2026.

Instant Brands: Instant Pot Sold, Lenders Take $390.9M Equity

Instant Brands filed chapter 11 in the Southern District of Texas on June 12, 2023 with roughly $512.3 million of funded debt. The case split into an Instant Pot appliances sale and a failed housewares sale, then emerged on February 27, 2024 as Corelle Brands under lender ownership.

Maximus Supply Chain Holdings Plan Projects 2% Recovery for Unsecured Creditors

Maximus Supply Chain Holdings filed chapter 11 in Indiana after a lender dispute with Centier Bank, completed a $9.95 million Wabash asset sale, and is seeking confirmation of a plan projecting about 2% recovery for unsecured creditors.

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