Case filing & court posture: Worldwide Machinery Group, Inc., a Houston-based heavy equipment rental and sales company, filed for chapter 11 protection on September 11, 2025 in the U.S. Bankruptcy Court for the Southern District of Texas (Case No. 25-90379). Dkt. 1 Judge Christopher M. Lopez presides. The debtors filed after defaulting on their ABL loan that matured in December 2024, carrying approximately $190.2 million in funded debt at filing.
Liquidity & financing path: The debtors operated on cash collateral without a DIP facility. Dkt. 54 The court approved an interim cash collateral order on September 15, 2025, granting adequate protection to KeyBank (ABL lender) and Caspian (second lien term loan lender). Dkt. 161 A second interim order was entered on October 8, 2025.
Restructuring outcome: The debtors pursued a 363 asset sale process. Dkt. 101 On September 26, 2025, the debtors filed a motion to sell substantially all assets to Macquarie Equipment Capital and Diversified Holding (Greenberg family insider) for approximately $69 million, revised from an initial $52.5 million to resolve a credit bid dispute. The sale closed on October 28, 2025.
Plan effective date & post-confirmation: A liquidating plan was confirmed on December 30, 2025. The plan became effective on February 10, 2026. ABL lenders recovered approximately 46% of their claims under the plan.
Current status: The case is in post-effective administration with wind-down activities managed by the plan administrator.