North American well-known warehousing and logistics company STG Logistics is facing severe liquidity pressure due to its continuously deteriorating operating performance and may apply for Chapter 11 bankruptcy protection in the United States as early as this month.

Founded in 1985, the company has 40 years of industry experience, operating the largest customs - supervised warehouse network in the United States, with a total storage area of 200,000 square meters, owning more than 3,000 transport frames and 15,000 intermodal containers.

Currently, the market price of the company's $795 million term loan has fallen to 24.75% - 25% of its face value. Fitch Ratings downgraded its credit rating from CCC + to CCC - in September. STG Logistics has hired Kirkland & Ellis LLP and investment bank PJT Partners to provide professional services, while also facing litigation challenges initiated by creditors.

Source: Chuhsi Network