Vroom Files for Bankruptcy, Says Subsidiaries Not Expected to Follow

Automotive finance company and digital services platform Vroom filed for Chapter 11 bankruptcy Wednesday (Nov. 13), saying in a filing with the Securities and Exchange Commission (SEC) that it plans to operate its business as a “debtor-in-possession” under the jurisdiction of the bankruptcy court.None of its subsidiaries are expected to commence Chapter 11 proceedings, Vroom said in the filing.The company said in a Tuesday (Nov. 12) press release that its subsidiaries include United Auto Credit Corp. (UACC) ...