iGPS files for bankruptcy protection, reorganization moving forward
iGPS files for bankruptcy protection, reorganization moving forward
Intelligent Global Pooling Systems, an Orlando, FL-based company that supplies reusable plastic pallets to various industries, filed for bankruptcy protection in early June and is apparently negotiating the sale of its assets to a third party, which plans to emerge as iGPS Logistics LLC, a joint venture formed by private equity firms and others.
The sale must be approved by the U.S. Bankruptcy Court in Wilmington, DE, and is subject to higher and better bids. In court filings, iGPS indicated that it hopes to complete the sale by the end of July.
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