Rand files for Chapter 11, agrees Lightship deal
- Latest News
- Thursday, 01 February 2018
Rand Logistics, one of the largest bulk freight shipping providers in North America's Great Lakes region, has filed for Chapter 11 protection after agreeing a debt-for-equity swap with lender Lightship Capital.
Rand has US$236 million of debt and said in November it would file for bankruptcy as part of a restructuring support agreement with Lightship, an affiliate of New York-based private equity firm American Industrial Partners.