Reddy Ice Holdings, the nation’s largest maker and distributor of packaged ice, filed for Chapter 11 protection Thursday in Dallas, adding to an already expansive docket for overloaded U.S. bankruptcy judges.
DLA Piper was retained as lead bankruptcy and corporate counsel to Reddy Ice, which lists assets of more than $434 million against liabilities of almost $531 million in its filing. Through a prepackaged bankruptcy plan backed by New York-based hedge fund Centerbridge Partners, Reddy Ice plans to merge with its bankrupt rival Arctic Glacier, the largest producer of ice in the Canadian market.
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