New York-listed Hermitage Offshore Services has filed for reorganisation under Chapter 11 of the US bankruptcy code after failing to come to terms with its lenders following a series of forbearance agreements.
"While the company would have preferred to complete its financial restructuring out of court, it was unable to reach a consensual agreement with its lenders, which made filing Chapter 11 necessary to provide a single forum for all continuing conversations with its lenders," Hermitage said in a release late on Tuesday.
