US Fidelis Files Chapter 11, No Longer Sells Warranty-Like Objects

Extended car warranty company US Fidelis already stopped selling new car service contracts and laid off over half of their staff at the end of 2009, and has now filed for Chapter 11 bankruptcy protection.

Among the company’s creditors? A television ad agency, former U.S. Attorney General John Ashcroft’s law firm, NASCAR team Rusty Wallace Racing, and thousands of former customers who are owed refunds.

Fidelis sank as owners got rich, bankruptcy filing shows [St. Louis Post-Dispatch] (via Consumer Reports Money)
Bankruptcy petition [St. Louis Business Journal] (PDF)

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