Shift Technologies is in post-confirmation liquidation, with Arch & Beam Global, LLC acting as liquidating trustee and the docket now centered on claims reconciliation rather than operating restructuring. The company entered chapter 11 on October 9, 2023 after liquidity deterioration, failed efforts to secure additional financing from noteholders, steep workforce reductions, facility closures, and an announced orderly wind-down that shut its website and remaining Oakland and Pomona lots; the first-day record described a remaining inventory liquidation around roughly 400 used vehicles and a skeleton workforce retained to collect receivables and sell assets through wholesale channels in chapter 11 rather than chapter 7 Jason Curtis First Day DeclarationDkt. 7.
The capital structure and claims stack were driven principally by unsecured note debt and vehicle-financing obligations. The debtor disclosed prepetition obligations including 6.00% senior unsecured notes due May 2025, 4.75% convertible senior notes due 2026, and an Ally Bank floorplan facility secured by financed vehicles and related collateral Jason Curtis First Day DeclarationDkt. 7. The noteholder claim later crystallized in a master proof of claim by U.S. Bank Trust Company, National Association, as indenture trustee, asserting at least $152.9 million on the 4.75% convertible notes across principal and accrued interest U.S. Bank Trust Proof of ClaimDkt. 1.
The case moved from wind-down into a plan-administered liquidation in 2024. The debtors filed a combined disclosure statement and joint chapter 11 plan in July 2024 , and the court entered an order finally approving disclosures and confirming the July 16, 2024 plan on September 26, 2024 . Since confirmation, the active work has been claims administration: in May 2026 the court entered orders reducing, disallowing, or expunging claims under the liquidating trustee’s thirteenth books-and-records objection and fourteenth amended-and-superseded-claims objection . A continued hearing remains tied to the Salesforce claim under the thirteenth omnibus objection, keeping the near-term path focused on resolving disputed claims and moving the liquidating trust toward distributions .