Flying J files for chapter 11 protection

Flying J Restructuring Press Releases / Flying J Restructuring On December 22, 2008, Flying J Inc. and its Big West refining and Longhorn Pipeline subsidiaries filed voluntary petitions to reorganize under Chapter 11 of the U.S. Bankruptcy Code. The filing was made with the U.S. Bankruptcy Court in Delaware.
The scope of the filing is limited to these operations only. It does not apply to other business units or affiliates, or the company's Canadian operations. In all cases, including those subsidiaries covered by the filing, Flying J's operations remain open and are conducting business as usual.
Even though Flying J has been a successful company, it faced near-term liquidity pressure from an unprecedented combination of factors: the precipitous drop in the price of oil and the lack of available financing from its traditional sources due to disrupted credit markets. With a sudden and unanticipated inability to meet its liquidity needs, the company had no other choice than a Chapter 11 filing to provide the time to work through a solution.
Flying J's objective is to move through the reorganization process as quickly as possible and to work toward a solution that will address its short-term liquidity needs and allow it to meet its past obligations in full.
More information about the company's reorganization is available at the following links:


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