Vobev, the US beverage can manufacturer, has filed for Chapter 11 bankruptcy, according to multiple news sources.

A statement on Utah Money Watch read: “According to details contained in the various filings for Case No. 24-26346, (initially filed on Monday, 9 December 2024 with the U.S. Bankruptcy Court, District of Utah), Vobev and its over 200 debtors, have agreed to enter into voluntary bankruptcy proceedings with the intent of selling-off the company and its assets to another firm.

“The firm in question is Atlanta, Georgia-based ARES Capital Corporation (NASDAQ:ARCC), the largest publicly traded business development company in the United States.”

The court files estimate that Vobev’s assets (and liabilities) are of $501 million to $1 billion each.

A Meeting of Creditors (the “section 341 meeting”) will be held on 14 January, 2025 at 2:00 p.m. (MT).

More to follow.