Pursuits
Parking Co. of America Airports Files for Bankruptcy
This article is for subscribers only.
Parking Co. of America Airports LLC, which calls itself the largest domestic off-site airport parking business, sought bankruptcy protection saying it plans to sell the company after sales were hurt by a slumping airline industry.
The Essington, Pennsylvania-based company listed assets of $94 million and debt of $233 million as of Sept. 30 in Chapter 11 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware. Parking Co. of America’s direct parent, PCAA Parent LLC, also filed for bankruptcy. The company is indirectly owned by Macquarie Infrastructure Company LLC, which didn’t file for bankruptcy.