ChainThink reports that on March 16, Chicago-based BlockFills filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. Documents filed by the company indicate that its estimated assets range between $50 million and $100 million, while its estimated liabilities range between $100 million and $500 million.
In a statement released on Sunday, BlockFills stated that, after extensive discussions with investors, clients, and creditors, filing for Chapter 11 bankruptcy is "the most responsible path forward." The filing will enable the company to undergo an orderly restructuring under court supervision while maintaining transparency and oversight. The company added that this move aims to "stabilize operations, seek additional liquidity and pathways to recovery, and explore potential strategic transactions," while emphasizing that protecting client interests "remains the top priority." (The Block)