Why did South Bay Expressway file to reorganize under Chapter 11 of the U.S. Bankruptcy Code?
The Company is taking this action to make significant improvements to its capital structure to become a more financially healthy company that is well positioned to meet the current market challenges and deliver on its long-term growth plans. The Company took this step only after very careful consideration and consultation with experienced financial and legal experts. The Company decided that this would be the most effective path for South Bay Expresswaythe path that would best protect and strengthen South Bay Expressways long-term value.
