Pitney Bowes' E-Commerce Arm Can Tap $47M DIP In Ch. 11

By Clara Geoghegan · August 9, 2024, 9:15 PM EDT

A Texas bankruptcy judge on Friday gave DRF Logistics LLC the go ahead to borrow $45 million under a Chapter 11 loan funded by its former parent, shipping company Pitney Bowes...

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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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