Filing Alert: Zips Car Wash Chapter 11
Zips Car Wash Files Chapter 11 in Northern District of Texas
Zips Car Wash, LLC, one of the largest privately held car wash operators nationwide, filed for Chapter 11 protection on Feb. 5 in the U.S. Bankruptcy Court for the Northern District of Texas.
Zips Car Wash filed alongside affiliates Express Car Wash Holdings, LLC, Zips 2900 Wade Hampton, LLC, Zips 3107 N. Pleasantburg, LLC, Zips 6050 Wade Hampton, LLC, Zips Operating Holdings, LLC, Zips Portfolio I, LLC, Zips Portfolio II, LLC, Zips Portfolio III, LLC, and Zips Portfolio IV, LLC.
The company reports $500 million to $1 billion in assets and $1 billion to $10 billion 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 25-80069.
Top Unsecured Claims
Key Parties
Counsel:
- Kirkland & Ellis LLP
Local Counsel:
- Jason S. Brookner
- Gray Reed & Mcgraw LLP
- Email: jbrookner@grayreed.com
Investment Banker:
- Evercore Group LLC
Financial Advisor:
- AlixPartners LLP
Claims Agent:
- Kroll Restructuring Administration LLC
Equity Security Holders:
- Zips Operating Holdings, LLC – 100% Equity Interest
Signatories:
- Kevin Nystrom – Chief Transformation Officer
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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