NBA Automotive, Inc., a Nissan dealership based in Dover, filed for Chapter 11 bankruptcy on August 27 in the Delaware Bankruptcy Court. The company has not yet shared how it plans to operate while under bankruptcy protection.
Highlights
- The company operates as Nissani Automotive, a Nissan dealership located in Dover, Delaware.
- The company, which also does business as Nissani Automotive, made a voluntary filing for Chapter 11 on August 27.
- The case is being represented by attorney Christopher Dean Loizides.
NBA Automotive, Inc. files for Chapter 11 bankruptcy
Its primary business is automotive sales and services, headquartered in Dover. The company filed for Chapter 11 Subchapter V bankruptcy on August 27. According to Pacermonitor, the case was filed under Case No. 25-11582 in the U.S. Bankruptcy Court for the District of Delaware.
The company works with automotive sales and services, and its main operations are based in Dover, Delaware. The bankruptcy filing states that NBA Automotive, Inc. is classified under the Automotive Equipment Rental and Leasing industry.
The Chapter 11 filing will allow the dealership to restructure its debts while keeping operations running. With this court-supervised reorganization, the company will be able to work on its financial obligations and work toward stabilizing the operations in the long term.
The process lets the company reorganize without immediately closing its doors or liquidating assets.
Court filings show the company has both assets and liabilities estimated between $1 million and $10 million. The case filing notes that NBA Automotive, Inc. has fewer than 50 creditors.
The bankruptcy is coming amid a similar wave of Chapter 11 cases in the automotive sector. More information is expected as the case develops.
