United Site Services, the nation’s largest provider of portable sanitation, has entered bankruptcy court with a sweeping plan to slash billions in debt and transfer ownership to its lenders, marking a dramatic reset for a company whose products quietly underpin everything from construction sites to the Super Bowl.
The Westborough, Massachusetts-based firm filed for Chapter 11 protection Monday in New Jersey, outlining a restructuring designed to erase $2.4 billion in obligations and stabilize its finances after years of expansion collided with economic headwinds.
Lenders Back Plan, One Creditor Pushes Back
United Site Services, owned by private equity firm Platinum Equity Partners, said most of its lenders have signed on to support the restructuring. Court filings, however, reveal one sizable creditor is resisting the plan and could pursue what the company described as a strategy of “delay and litigation.”
Even with that opposition, the company said the deal has enough backing to move forward, pending court approval.
