success stories for the
Assignment for the Benefit of Creditors
There are numerous recent cases where the Assignment for the Benefit of Creditors structure was used by a company facing liquidation. Here are a few of the recent examples:
Bellacor, 2024
The online retailer stated in early May it was unable to pay its debts and was later placed in an ABC.
Source: Furniture Today
Ocho Candy Inc., 2024
The former candy and chocolate company decided to shutter operations in 2024 and pursue an Assignment for the Benefit of Creditors to liquidate its assets.
Source: Candy Industry
Audio America, 2023
The electronics distributor faced closure in 2023 and pursued an ABC in its orderly wind down.
Blueboard, 2024
The employee rewards company closed abruptly in March and moved into an ABC process.
Source: KQED
Bridge Connector, 2021
The health tech startup showed signs of distress in 2021 and pursued an ABC to liquidate and repay debts.
Source: Nashville Business Journal
Crystal Cruises, 2022
The cruise company shut down following the COVID-19 pandemic onset and pursued an ABC structure to wind down.
Source: Seatrade Cruise News
