E-commerce company Parts ID filed for chapter 11 bankruptcy protection Monday and said it plans to continue normal operations, WSJ Pro Bankruptcy reported. Parts ID added it expects common stockholders are unlikely to receive any payments and existing securities would be canceled when its reorganization plan becomes effective. The company’s shares fell 43%, to 5 cents, before a trading halt. The stock is down about 95% this year. Parts ID expanded beyond its automotive focus, launching marketplaces in categories including boats, motorcycles and campers. The company said in a securities filing Tuesday that it entered a credit agreement on Dec. 19 with Fifth Star.
