COACH AMERICA FILES FOR CHAPTER 11
Published at 24.01.2012 in Company news, International developments
Coach America Holdings Inc. announced the company and its subsidiaries have filed a voluntary petition for Chapter 11 reorganization in the U.S. Bankruptcy Court for the District of Delaware. This decision was made with a focus on reducing its debt and advancing the best interests of the company and its stakeholders.
Headquartered in Dallas, Coach America says it is the largest tour and charter bus operator and the second largest motorcoach service provider in the U.S. Services include motorcoach charters, tours and sightseeing, commuter transportation, airport and casino shuttles, rail crew transportation, and contract services for municipalities and corporations. Coach America, or CUSA as it was also known in that period, was formed when the private equity firm Kohlberg & Company ("Kohlberg") sponsored the acquisition of the West and South Central regions of Coach USA in 2003. Coach USA, at that time consisted of nine regions in the US and Canada. Since the initial acquisition, Coach America has added numerous companies to its business operations, including American Coach Lines in the South and Southeast, as well as Lake Front Lines of Ohio.Coach America operates the second largest fleet in the U.S. with more than 3,000 vehicles, including over 1,600 motorcoaches, primarily under the Coach America, American Coach Lines and Gray Line brands.
