Ex-SPAC Parts ID Files for Chapter 11 Bankruptcy in Delaware
- Website operator lists liabilities of at least $50 million
- Company went public via merger with blank-check firm in 2020
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Parts ID Inc., a publicly traded operator of ecommerce websites focused on automotive parts, filed for Chapter 11 bankruptcy on Tuesday.
The company listed assets of at least $10 million against liabilities of more than $50 million in its bankruptcy petition. The filing allows Parts ID to keep operating while it works out a creditor-repayment plan.