Waitr Holdings Inc.: going-concern / distress — Waitr Holdings files Chapter 7 bankruptcy; all operations ceased April 2, 2024

The commencement of the Chapter 7 cases described in Item 1.03 of this Current Report on Form 8-K constitutes an event of default under certain of the Company’s debt instruments (including (i) the credit agreement dated November 15, 2018, as amended, by and among the Company, various lenders and Luxor Capital Group, LP as administrative agent and (ii) the credit and guaranty agreement dated November 15, 2018, as amended, by and among various Subsidiaries, various lenders and Luxor Capital Group, LP as administrative agent), which results in acceleration of the Company’s and the Subsidiaries’ obligations under such debt instruments.

On April 2, 2024, Waitr Holdings Inc. (the “Company”) and subsidiaries Waitr Intermediate Holdings, LLC (“WIH”), Dude Delivery, LLC (“Dude Delivery”), Cape Payments LLC (“Cape Payments”), BiteSquad.com, LLC (“BiteSquad”), ASAP Inc. (“ASAP”), Have Fun, LLC (“Have Fun”), DDIT, LLC (“DDIT”), CDMX Holdings, LLC (“CDMX”), Delivery Logistics, LLC (“Delivery Logistics”), Catering on Demand LLC (“Catering”) and KASA Delivery, LLC (“KASA” and together with Catering, Delivery Logistics, CDMX, DDIT, Have Fun, ASAP, BiteSquad, Cape Payments, Dude Delivery and WIH, the “Subsidiaries,” and each a “Subsidiary”), each filed a voluntary petition for relief under the provisions of Chapter 7 (“Chapter 7”) of Title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”), (collectively, the “Bankruptcy Filings”).

Concurrent with the Bankruptcy Filings, directors Carl A. Grimstad, Jonathan Green, Buford H. Ortale, and J. Daniel Schmidt tendered their resignations as members of the Company's Board of Directors.

Concurrent with the Bankruptcy Filings, directors Carl A. Grimstad, Jonathan Green, Buford H. Ortale, and J. Daniel Schmidt tendered their resignations as members of the Company's Board of Directors.

Concurrent with the Bankruptcy Filings, directors Carl A. Grimstad, Jonathan Green, Buford H. Ortale, and J. Daniel Schmidt tendered their resignations as members of the Company's Board of Directors.

Carl A. Grimstad, the chief executive officer, Armen Yeghyazarians, the chief financial officer and chief accounting officer, Thomas C. Pritchard, general counsel, David Cronin, chief engagement officer, and Timothy Newton, chief technology officer were terminated as executive officers of the Company.

Concurrent with the Bankruptcy Filings, directors Carl A. Grimstad, Jonathan Green, Buford H. Ortale, and J. Daniel Schmidt tendered their resignations as members of the Company's Board of Directors.

Carl A. Grimstad, the chief executive officer, Armen Yeghyazarians, the chief financial officer and chief accounting officer, Thomas C. Pritchard, general counsel, David Cronin, chief engagement officer, and Timothy Newton, chief technology officer were terminated as executive officers of the Company.

Carl A. Grimstad, the chief executive officer, Armen Yeghyazarians, the chief financial officer and chief accounting officer, Thomas C. Pritchard, general counsel, David Cronin, chief engagement officer, and Timothy Newton, chief technology officer were terminated as executive officers of the Company.

Carl A. Grimstad, the chief executive officer, Armen Yeghyazarians, the chief financial officer and chief accounting officer, Thomas C. Pritchard, general counsel, David Cronin, chief engagement officer, and Timothy Newton, chief technology officer were terminated as executive officers of the Company.

Carl A. Grimstad, the chief executive officer, Armen Yeghyazarians, the chief financial officer and chief accounting officer, Thomas C. Pritchard, general counsel, David Cronin, chief engagement officer, and Timothy Newton, chief technology officer were terminated as executive officers of the Company.