DRF Logistics is in post-confirmation liquidation, with the Liquidating Agent administering distributions and continuing to reconcile claims under a plan that became effective on December 9, 2024, as reflected in the second-quarter 2026 post-confirmation reportDkt. 824. The case is no longer centered on operating liquidity or a going-concern restructuring; its present work is claims resolution and estate administration.

The debtor filed chapter 11 on August 8, 2024Dkt. 1 after years of losses in Pitney Bowes’ global e-commerce business, continued monthly funding needs and an unsuccessful marketing process. The first-day declarationDkt. 14 described average annual losses of approximately $97 million since 2019, roughly $10 million to $15 million of monthly funding from Pitney Bowes since 2021 and a petition-date capital structure that included $3.3 million of external funded debt plus $116 million of unsecured notes owed to a Pitney Bowes affiliate. The filing was designed to implement an orderly wind-down, supported by a contemplated $47 million DIP facility and a broader restructuring agreement under which Pitney Bowes would release substantial claims and fund a minimum initial distribution to general unsecured creditors.

That process ultimately moved into an effective liquidation plan and ongoing distribution administration. Through June 30, 2026, the post-confirmation reportDkt. 824 recorded approximately $19.7 million of cumulative cash disbursements since the effective date; it reported 76% payment on allowed administrative claims and 90% on allowed secured claims, while reporting no distributions yet on allowed priority or general unsecured claims.

Claims reconciliation remains the principal near-term workstream. On July 21, 2026, the court granted the Liquidating Agent’s sixth omnibus claims objectionDkt. 825, disallowing, expunging or modifying claims across several categories. The court then extended the claims-objection deadline through August 17, 2026Dkt. 830, leaving further objections and resolution of remaining disputed claims as the next identifiable milestone.