STG Logistics Clears Chapter 11 Exit After Court Approves Reorganization Plan

Key Details STG Logistics expects to emerge from Chapter 11 bankruptcy protection within weeks after the U.S. Bankruptcy Court for the District of New Jersey approved its reorganization plan on May 18. The Dublin, Ohio-based intermodal and drayage provider filed for court protection in January alongside 64 affiliates to restructure over $1 billion in debt obligations. Why It Matters The company will exit bankruptcy with significantly reduced debt levels and a strengthened financial foundation. STG will receive a final $25 million tranche from $150 million in committed capital to support operations post-emergence. CEO Geoff Anderman stated the approval puts the company on a clear path forward with the ability to invest in its business and continue delivering integrated port-to-door solutions. Ownership Changes Fortress Investment Group, Fidelity Management & Research Co., and Invesco Senior Secured Management will lead a group of financial institutions taking majority ownership. The restructuring support agreement eliminated approximately 91% of STG's outstanding debt obligations held by equity backers and major lenders. Operations Resume STG maintained normal business operations throughout the bankruptcy process, ensuring customers experienced no service disruptions. The company overcame its final major hurdle by settling litigation related to a 2024 liability management transaction involving an earlier $300 million debt restructuring.