Why Pitney Bowes Spun E-Commerce Biz Off Into Ch. 11

By Emlyn Cameron · August 16, 2024, 8:32 PM EDT

A heated proxy battle, big capital outlays and more than $570 million in losses set the stage for shipping company Pitney Bowes to spin off its e-commerce unit and send it...

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Bankruptcy Scorecard

Summary

Shipping company Pitney Bowes Inc. spun off its e-commerce delivery arm, DRF Logistics, and placed it into Chapter 11 to wind down the division after years of heavy losses.

Case Number

24-bk-90447

Judge

Christopher M. Lopez

Venue

U.S. Bankruptcy Court for the Southern District of Texas

Capital Structure

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Related Sections

Case Information

Case Title

DRF Logistics, LLC

Case Number

4:24-bk-90447

Court

Texas Southern

Nature of Suit

Date Filed

August 08, 2024

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