Coach USA, the parent company of Wisconsin Coach Lines in Waukesha, has filed for Chapter 11 reorganization, aiming to sell off assets to sustain the business. The company has entered into a purchase agreement with Bus Company Holdings and AVALON Transportation, LLC, to sell bus lines, including Wisconsin Coach Lines and Megabus. Despite facing challenges due to the COVID-19 pandemic, Coach USA remains focused on operating safely and serving customers in the United States and Canada.
The proposed transactions from the sale of assets will help preserve thousands of jobs and ensure uninterrupted passenger transportation services for millions of passengers. Coach USA, which has 1,000 to 5,000 creditors, listed estimated assets and liabilities at $100 million to $500 million. The CEO, Derrick Waters, emphasized that the company’s top priority is safely transporting passengers and working closely with contract customers and transportation partners. With commitments for debtor-in-possession financing, Coach USA expects to support its operations during the court-supervised process.
The company intends to continue paying wages, offering benefits to employees, and paying vendors and suppliers in full. Coach USA is navigating the reorganization process with the goal of maximizing the value of its assets and ensuring the well-being of its people, communities, and customers. The company remains operational and committed to providing essential transportation services while adapting to the challenges posed by the ongoing pandemic.
