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Paladin Management handles the Chapter 11 filing of Denver’s Fluid Truck, which plans to use the proceeding to implement an orderly sale of its business to Kingbee Vans.
Launched in 2016, Fluid rents commercial trucks to clients ranging from small businesses to large retailers, enabling them to avoid the hassle and costs of vehicle ownership.
High inflation, delays in payment of insurance claims, and the downturn in the used vehicle markets hit Fluid’s business model.
The company also ousted its co-founders James Eberhard and Jenifer Snyder, and cut 30 percent of its staff two months ago.
Scott Avila, interim CEO and chief restructuring officer of Fluid, said the Chapter 11 filing and sale to Kingbee “not only secures the continuity of operations but also expands our customer offerings with a more comprehensive range of vehicle rental solutions.”
Paladin’s Liz Gonzalez handles the media for Fluid.
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