The trustee assigned to the bankruptcy of Tough Mudder filed a petition last week asking the bankruptcy court to allow a transition between chapter 11 bankruptcy and chapter 7, mudrunguide.com reported. "Given that, among other things, (i) the trustee has sold all of the debtors’ operational assets of any meaningful value, (ii) the debtors have no continuing business operations that can generate value, and (iii) the debtors’ estates do not have the resources necessary to solicit and confirm a chapter 11 plan, the trustee believes that conversion of the chapter 11 cases to chapter 7 is necessary and appropriate," according to the petition. The largest of the unsecured creditors is Tough Mudder's registration platform Active and according to the filing, they have no objections to the conversion. If the petition is approved this will end the final chapter of Tough Mudder as it was owned by Will Dean.
