To execute its recapitalization, CWT expects to file for a prepackaged Chapter 11 bankruptcy reorganization as soon as this month. Legal experts see signs supporting the company’s view that it will emerge on solid footing. In a “prepack,” a company aims to quickly fulfill the bankruptcy legalities, achieve approvals and get back to business. A…
“Green shoots” are nice but transaction counts for most travel management companies as of last week remained between 3 percent and 15 percent of last year’s levels. Emotionally, that is a million times better than cancellations outstripping bookings. TMCs are seeing gains every week. More than a dozen of their executives speaking with The Company…
Corporate and government travel management company Duluth Travel this month emerged from Chapter 11 bankruptcy protection after about 10 months, only to face the effects of the partial U.S. federal government shutdown. Reorganization allowed the Atlanta-area company to “realign its partnerships” and “grow its client base, while keeping its focus on customer service,” according to a…
Atlanta-area travel management company Duluth Travel today filed for Chapter 11 bankruptcy protection in a bid for breathing room as it fights a legal battle with a regional rival. Duluth is appealing its loss in a breach of contract lawsuit by former partner AdTrav Travel Management. The bankruptcy filing is a rare one for travel…
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