Vobev, LLC, an integrated beverage can production and filling platform operating a Salt Lake City facility with capacity for up to 1.8 billion cans and 900 million fills annually, filed for Chapter 11 protection on December 9, 2024 in the U.S. Bankruptcy Court for the District of Utah (Case No. 24-27001) before Judge Joel T. Marker. Construction of the facility began in 2020 but pandemic-era supply chain disruptions delayed equipment procurement and pushed back production ramp-up, exhausting the April 2023 refinancing by October 2023 while production remained insufficient to cover costs. With total indebtedness of approximately $476 million — including $361 million in term loans and $41 million in ABL obligations under Ares Capital Corporation as administrative agent — the debtor obtained a $115.4 million DIP facility comprising $37.25 million in new money and a $78.1 million roll-up of prepetition obligations. The case moved quickly through a 363 sale process: bidding procedures were approved January 9, 2025, and the court entered a sale order on February 7, 2025 approving the sale of substantially all assets to Adonis Acquisition Holdings LLC via a $150 million credit bid. Following the sale, a First Amended Combined Disclosure Statement and Chapter 11 Plan of Liquidation was filed on April 21, 2025, establishing a GUC Trust to distribute recoveries to Class 3 prepetition lender deficiency claims and Class 4 general unsecured claims. The plan was confirmed on April 24, 2025 following a contested hearing, with releases approved under Bankruptcy Rule 9019 and exculpation provisions with standard carve-outs.
