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Technology & telecom coverage - ElevenFlo

Technology & telecom coverage

57 articles

Week of March 16, 2026

Wag!: 66-Day Prepack Chapter 11 Transfers Ownership

Wag\! Group Co. filed prepackaged chapter 11 in Delaware in July 2025 after SoftBank's $300M investment, a failed SPAC, and $69.5M in cumulative losses. Retriever LLC converted $16.3M in secured debt to 100% equity; the plan confirmed in 66 days with general unsecured creditors paid in full.

QLess: Subchapter V Restructuring Resolves Shareholder Litigation

QLess, a Pasadena-based SaaS queue management company, filed Subchapter V in Delaware in June 2024 amid $1M in shareholder litigation costs. Plan confirmed under §1191(b) cramdown in 90 days; $3.3M DIP converted to equity. Case closed by final decree March 2025.

Brookfield Buys Cyxtera Data Centers for $775M

Brookfield bought Cyxtera Technologies' data centers for $775 million after the company filed chapter 11 in New Jersey. The plan took effect Jan. 12, 2024.

Bird Global: SPAC Scooter Operator Ends in Liquidating Plan

Bird Global filed chapter 11 in Miami after ride volumes and revenue fell, completed a lender-backed 363 sale, and exited through a liquidating plan effective September 17, 2024.

WOM S.A.: Chilean Telecom Confirms Delaware Chapter 11 Plan

WOM S.A., Chile's second-largest mobile operator, filed chapter 11 in Delaware on April 1, 2024 and confirmed a plan on March 7, 2025. The post covers the DIP financing, the jurisdictional dismissal fight, creditor recoveries, and the remaining Plan Trust claims process.

Rhodium Encore: Riot Settlement Drives Liquidation Plan

Rhodium Encore's chapter 11 case in Texas began as a liquidity crisis tied to the Whinstone and Riot dispute. The case ultimately monetized assets, closed a $185 million settlement, and confirmed a liquidating plan that became effective on January 14, 2026.

Week of March 9, 2026

Mobileum Exits Chapter 11 After Eliminating $530M of Debt in Prepackaged Restructuring

Filed July 23, 2024 in SDTX with an RSA; $60M new-money DIP and $100M roll-up. Emerged Sept 12, 2024 after cutting ~$530M debt.

First Mode Holdings: $26M DIP and Cummins 363 Sale

First Mode filed in Delaware in Dec 2024 after Anglo American ended funding. Case used a $26M DIP, $15M Cummins 363 sale, and March 2025 liquidating plan.

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

My Job Matcher, Inc. (Job.com), an AI-driven recruitment platform, filed chapter 11 in Delaware after revenue declined from $100M to $15M. Secured lenders replaced the board, acquired assets via a $35M credit bid, and a liquidating plan was confirmed via cramdown.

Week of March 2, 2026

Takeoff Technologies: Customer-Funded Sale to Woolworths

Takeoff Technologies filed chapter 11 in Delaware after grocery e-commerce demand slowed, used customer-funded DIP financing to support a 363 sale to Woolworths, and kept its main bankruptcy case open into 2026 for claims reconciliation under a liquidating plan.

iLearningEngines: SPAC Fallout and Chapter 7 Conversion

iLearningEngines filed chapter 11 in Delaware on Dec 20, 2024 and converted to chapter 7 on Mar 6, 2025 after failing to secure postpetition financing.

Casa Systems Bankruptcy: CommScope $45.1M Sale, Plan Confirmed

Casa Systems’ April 2024 Delaware chapter 11 sold its cable business to CommScope for $45.1 million and Axyom 5G/RAN assets to Lumine before a liquidation plan took effect.

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