Zips Car Wash Gets OK For $279M Debt-Swap Ch. 11 Plan

By Rick Archer · April 18, 2025, 3:36 PM EDT

A Texas bankruptcy judge on Friday approved Zips Car Wash's $279 million debt-swap reorganization, overriding the U.S. Trustee's office's arguments against the plan's claims releases for third parties....

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Bankruptcy Scorecard

Summary

Zips Car Wash LLC and nine affiliates filed for Chapter 11 protection in Texas, citing competition, climbing interest rates and nearly $654 million in funded debt, with a restructuring plan in hand to shave off about $279 million.

Case Number

8:25-bk-80069

Judge

Michelle V. Larson

Venue

U.S. Bankruptcy Court for the Northern District of Texas

Capital Structure

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Related Sections

Case Information

Case Title

Zips Car Wash, LLC

Case Number

8:25-bk-80069

Court

Texas Northern

Nature of Suit

Date Filed

February 05, 2025

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