Solubag USA, Inc. operates as a Florida-based company, which focuses on developing sustainable alternatives to conventional plastic products. The company recently filed for Chapter 11 bankruptcy protection, with court records listing between 50 and 99 creditors.
Note: Chapter 11 allows businesses to reorganize their debts while continuing operations under court supervision. Solubag USA, Inc. has filed for Chapter 11 subchapter V. This provides a streamlined process for qualifying small business debtors. A Chapter 11 filing does not necessarily mean that a business is closing. For additional information, readers are encouraged to contact the business directly.
Solubag USA, Inc. Files for Bankruptcy
According to the court records on PACER, the company submitted its petition on November 4. The records identify Solubag USA, Inc. as a small business debtor and show that it has opted for a Subchapter V filing.
While no reasons have been specified for the filing, the company appears to be facing a financial gap. Its estimated range of liabilities has outpaced the estimated range of assets.
About the Company
Solubag USA, Inc. is a sustainable materials company developing alternatives to conventional single-use plastics. Established by scientists from Chile, the company has used patented technology to develop materials for both flexible and rigid products. According to its website, these materials are made from FDA-tested raw materials. The company says the materials are designed to offer functionality similar to conventional plastics while reducing plastic waste.
The company’s technology can be used to develop several products, including shopping bags, disposable gloves, food packaging, pet waste bags, protective wraps, and bubble wraps. It also develops products for use in healthcare, agriculture, construction, and retail.
Highlights from the Petition
Court records show that the company submitted a list of creditors with the largest unsecured claims. Among the creditors are QS Solubag Investment Corp, LLC, Vertilux Properties Ltd., Media Circle, LLC, BRC Capital LLC, and others.
The records indicate that funds will be available for distribution to the unsecured creditors.
Michael D. Latham, the company’s president and treasurer, signed the petition before it was filed.
Attorney Joe M. Grant, Esq. of Lorium Law is offering representation to the company.
A summary of the Chapter 11 petition is shared here:
- Filing Date: November 4, 2026
- Court and Jurisdiction: U.S. Bankruptcy Court for the Southern District of Florida
- Type of Filing: Active, Voluntary Petition
- Chapter: 11, Subchapter V
- Case Number: 26-24757-CAP
- Estimated Assets: Between $100,001 and $500,000
- Estimated Liabilities: Between $1,000,001 and $10 million
- Estimated Creditors: Between 50 and 99
Solubag USA, Inc.’s future financial footing could depend on the upcoming court rulings.
