Case filing & court posture: United Site Services, Inc., the nation's largest portable sanitation provider, filed a prepackaged chapter 11 petition on December 29, 2025, in the District of New Jersey (Case No. 25-23630). Dkt. 1 Judge Michael B. Kaplan presides.
Pre-filing context: USS, a Platinum Equity portfolio company, carried approximately $2.85 billion in funded debt across ABL, first-out, second-out, and unsecured note facilities. Dkt. 15 Weak construction spending, inflation, and floating-rate debt burdens drove the filing despite a 2024 recapitalization that reduced net debt by $200 million.
Liquidity & DIP financing: The court approved a $120 million DIP term loan facility, fully backstopped by the Ad Hoc Lender Group, on an interim basis on December 30, 2025 Dkt. 70 and on a final basis on February 3, 2026. Dkt. 266
Restructuring path: The prepackaged plan proposes to eliminate more than $2.4 billion in funded debt through equitization, fund a $480 million equity rights offering backstopped by the Ad Hoc Group, and provide approximately $300 million in exit term loan financing plus approximately $295 million in exit revolving facilities. General unsecured creditors (Class 8) are unimpaired under the plan.
Current status: The combined disclosure statement and confirmation hearing, originally scheduled for February 10, 2026, was adjourned to February 17, 2026. Dkt. 293 The case remains pending confirmation.
