Bondoro Insights Weekly Docket Update

This Week's Key Filings

Compass Coffee, LLC (Filed Jan. 6)

Case Summary – Published Jan. 6

• Compass Coffee has filed for Chapter 11 bankruptcy amid sustained declines in foot traffic and mounting lease liabilities, seeking to pursue a Section 363 sale with a strategic stalking horse bidder backed by $450,000 in DIP financing from National Investment Group.

DIP Terms – Published Jan. 6

• Compass Coffee filed a motion seeking interim and final approval for a $450,000 junior secured superpriority DIP facility from prepetition investor National Investment Group, Inc. that provides $100,000 upon interim entry to fund working capital and case expenses, carrying 10% interest and maturing on April 30, 2026, while remaining junior to approximately $1.7 million in existing prepetition secured debt.

Trinity Auto LLC (Filed Jan. 2)

Case Summary – Published Jan. 6

• Trinity Cadillac has filed for Chapter 11 bankruptcy following the loss of floorplan financing and a failed transaction with Open Road Auto Group, seeking to maintain service operations to facilitate an expedited Section 363 sale to Brogan Cadillac.

Worldwide Machinery Group, Inc. (Filed Sep. 11)

Plan Terms – Published Jan. 1

• Worldwide Machinery’s confirmed liquidation plan follows the sale of substantially all assets, whereby the estate transitions into a wind-down entity managed by Claritas Advisors to monetize retained causes of action and distribute proceeds to creditors, including holders of the allowed $72.7 million Caspian loan facility.

FlexShopper, Inc. (Filed Dec. 22)

DIP Terms – Published Jan. 1

• FlexShopper secured interim approval for an $8 million new-money DIP facility from ReadySett LLC, consisting of a $2 million initial draw and $6 million available upon a final order, carrying 15% interest and maturing 80 days post-petition to fund a sale process anchored by a stalking horse bid.

Luminar Technologies, Inc. (Filed Dec. 15)

Plan Terms – Published Dec. 31

• Luminar Technologies’ restructuring support agreement with senior secured lenders facilitates a liquidation plan centered on the $110 million stalking horse sale of its semiconductor business to Quantum Computing, Inc., whereby the debtor utilizes consensual cash collateral to market remaining LiDAR assets and fund a wind-down trust that allocates a capped $200,000 reserve to general unsecured creditors.

Bidding Procedures Summary – Published Dec. 30

• Luminar Technologies obtained approval of bidding procedures for a sale of substantially all assets, designating Quantum Computing Inc. as the stalking horse bidder for its LSI semiconductor assets with a $110 million cash offer and authorizing the designation of a separate stalking horse for its LiDAR assets ahead of a Jan. 9 bid deadline and Jan. 15 auction.

Hansen-Mueller Co – (Filed Nov. 17)

APA Summary – Published Dec. 31

• Hansen-Mueller obtained approval to sell various asset lots, including grain elevators and operational facilities in Iowa, Ohio, and Wisconsin, to multiple purchasers including The Redwood Group, Paterson Grain, and West Plains following a Dec. 16 auction.

Navidea Biopharmaceuticals, Inc. (Filed Oct. 1)

Plan Terms – Published Dec. 31

• Navidea Biopharmaceuticals’ Subchapter V plan proposes a restructuring funded by sale consideration from a marketing process targeting a section 363 sale or NOL-preserving sponsorship, supported by a $1.6 million DIP facility from a majority shareholder.

Food52, Inc. (Filed Dec. 29)

DIP Terms – Published Dec. 31

• Food52 obtained interim approval for a $3.42 million new-money DIP facility from F52, LLC that provides $1.92 million in immediate liquidity to fund working capital and a payoff of Avidbank secured debt.

Case Summary – Published Dec. 30

• Food52 has filed for Chapter 11 bankruptcy following a post-pandemic demand downturn and a liquidity crisis triggered by a lender cash sweep, pursuing a sale to stalking horse bidder America's Test Kitchen backed by $3.42 million in DIP financing.

Bidding Procedures/ APA Summary – Published Dec. 30

• Food52 sought court approval of bidding procedures to sell substantially all of its assets, naming F52, LLC as the stalking horse with a $6.5 million offer, consisting of a $3.42 million DIP credit bid and cash consideration, with bids due Jan. 26 and an auction set for Jan. 29.

Buckingham Senior Living Community, Inc. (Filed Nov. 17)

DIP Terms – Published Dec. 30

• Buckingham Senior Living Community obtained final approval for a $4 million UMB Bank-administered DIP facility priced at 12% fixed interest, which primes prepetition bondholder liens to fund operations through a sale process requiring a bid deadline by January 16, 2026, and a sale hearing by January 28, 2026.

About Bondoro Insights Summaries

Our goal with Bondoro Insights is to provide you with faster, broader coverage on active Chapter 11 cases. These summaries are generated by Bondoro's proprietary AI, tuned on our historical coverage and validated against source filings. While accuracy is a priority, they are intended for immediate informational purposes, may contain errors, and are not a substitute for professional or legal advice. Please refer to the source filings for definitive information.

This AI-powered coverage is designed to supplement our comprehensive, analyst-written case summaries.

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