After repeated struggles, Michigan-based energy company Norcold LLC has filed for bankruptcy. The Chapter 11 filing allows the company to operate under court supervision while it restructures its finances. The company’s financial strain is reflected in a significant gap between its reported assets and liabilities.
Norcold LLC Filed for Chapter 11 Bankruptcy
According to Pacer, Norcold LLC filed for bankruptcy on November 3, 2025, in the Delaware Bankruptcy Court. Norcold LLC manufactures gas and electric refrigerators designed for recreational vehicles and marine use. These are designed for recreational vehicles and the marine industries.
Norcold’s parent company, Thetford, closed two Ohio manufacturing facilities in 2022 amid industry headwinds and labor shortages. The closures were attributed to economic pressures, labor constraints, and a broader slowdown in the RV and marine industries. Following this, the company also initiated multiple voluntary safety recalls for products due to defects that posed a potential fire hazard.
Now, through Chapter 11 bankruptcy, the company seeks to restructure its debts. In its bankruptcy petition, the company submitted several first-day motions to maintain operations. These motions aim to stabilize business operations and position the company to secure financing and repay creditors.
Significant Assets and Liabilities Imbalance
Court documents list Norcold’s assets between $1 million and $10 million, with liabilities ranging from $100 million to $500 million. The number of creditors is between 1,000 and 5,000, as shown in the filing.
Norcold LLC has asked the court to allow it to keep all current insurance policies active. It filed a motion to ensure key suppliers and vendors are paid. The company also filed motions to cover state and local taxes, customs fees, and other required government payments.
Norcold LLC also requested the court to allow it to keep using its existing bank accounts and accounting systems. The company has also filed a DIP (Debtor-in-Possession) Financing Motion to help fund daily operations. The company also submitted a sale motion seeking approval to sell all or nearly all of its assets to repay creditors.
Following these motions, Norcold LLC filed a Chapter 11 Plan of Liquidation and Disclosure Statement. It will show how the assets will be sold and how the creditors will be paid. The plan outlines how Norcold intends to wind down operations and distribute proceeds to creditors.
Case Filing and Court Proceedings
Norcold LLC filed a voluntary petition under Chapter 11 and requested the court to appoint Stretto as the claims agent. The company paid the filing fees and submitted multiple first-day motions to the court.
Here’s a summary of the bankruptcy:
- Court: Delaware Bankruptcy Court
- Case Number: 1:25-bk-11933
- Filing Date: November 3, 2025
- Chapter: 11
- Judge: Thomas M Horan
- Status: Active, voluntary petition
In addition, the company has asked the court to allow the continuation of existing customer programs. The company also requested permission to send court notices electronically.
