Bunkers Resorts to Chapter 11 Bankruptcy Protection
Florida’s marine fuel provider Bunkers International Corp (Bunkers) and its affiliated companies have filed for reorganization under Chapter 11 of the Bankruptcy Code.
“The companies were forced to take this action after their primary lender ceased lending and swept all available cash,” the company said in a statement.
However, Bunkers said that despite the recent turn of events it intends to continue to operate during the Chapter 11 process and restructure its debts.
“Although the Bankruptcy Code does not allow the company to pay for goods and services incurred prior to the filing date, the company will be current on all post‐filing obligations,“the statement further reads.
Founded in 1995, Bunkers International has been servicing the marine fuel industry, providing trading, physical supply, and brokering services to ship operators. It operates from offices in the United States, Colombia, the United Kingdom, Greece, Singapore, Colombia, and South Africa.