Filing Alert: Wiser Chapter 11

Update (Apr. 28, 2026): A comprehensive case summary is now available for the Chapter 11 bankruptcy filing of Wiser Solutions, Inc.

Wiser Solutions, Inc. and its debtor affiliates⁽¹⁾, a San Francisco, CA-based provider of retail analytics and pricing intelligence software, filed for Chapter 11 protection on Apr. 26 in the U.S. Bankruptcy Court for the Northern District of Texas.

The company attributes its distress to a highly levered ~$563 million funded debt and preferred equity structure—comprising $250.6 million in senior secured debt, $162 million in unsecured notes, and $150.4 million in preferred equity—coupled with liquidity strain from a non-integrated, acquisition-driven growth strategy financed through a mix of debt and equity. Following 11 acquisitions, the SaaS provider was left with duplicative technology platforms, elevated overhead, and sustained operating losses that contributed to repeated payroll delinquencies. The resulting liquidity crisis forced the company to rely on unsecured bridge financing, culminating in a $15 million judgment in February 2026 by an unpaid lender that posed an imminent risk of asset levy and necessitated chapter 11 protection.

The filing aims to facilitate a Section 363 asset sale anchored by a pre-negotiated stalking horse credit bid from Crestline, the company’s prepetition senior secured lender. To fund the cases and stabilize operations, including its non-debtor foreign affiliates, the debtors have secured a $34.2 million DIP facility from Crestline, which bears 20% PIK interest and includes a $22.8 million roll-up of prepetition obligations, including a $3.4 million interim roll-up of amounts funded immediately prior to the Petition Date. The proposed bidding procedures establish an expedited 40-day timeline, targeting a June 15, 2026 bid deadline and a June 30, 2026 closing, alongside customary first-day relief, including an NOL preservation motion designed to protect approximately $356.8 million in prepetition net operating losses.

Wiser Solutions, Inc. reports $50 million to $100 million in assets and $100 million to $500 million in liabilities. The filing indicates that no funds will be available for distribution to unsecured creditors after administrative expenses are paid. The case number is 26-80002.

⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.

Key Parties

Local Counsel:

• Katharine Battaia Clark
  Thompson Coburn LLP
  Email: [email protected]

General Bankruptcy Counsel:

• Hogan Lovells US LLP

Investment Banking Services:

• SSG Capital Advisors, LLC

Signatories:

• Donald Harer – Chief Restructuring Officer

Claims Agent:

• Epiq Global

Equity Security Holders:

• Figtree Partners, LLC – 31.750% Equity Interest

Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.

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