Coach America Drives Into Ch. 11 Due To Economy

Law360, New York (January 3, 2012, 8:04 PM EST) -- Tour and charter bus giant Coach America filed for Chapter 11 bankruptcy protection on Tuesday, saying it needs to restructure its debt after business slowed during the economic downturn.

Coach Am Group Holdings Corp., the parent of Coach America Holdings Inc. and 48 affiliates, said in Delaware bankruptcy court filings that the company had assets of about $274 million and liabilities of about $402 million as of Nov. 30.

In an affidavit filed with the court, Coach America said it has struggled to pay back two...
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