Taylor Bus Takes Chapter 11 Route to Seek Protection From Creditors
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Taylor Bus Service Inc., the Anaheim charter bus operator that serves dozens of private schools and public school districts throughout California, has filed for protection from creditors under Chapter 11 of the federal bankruptcy code.
Company officials could not be reached Friday for comment, but a Chapter 11 petition normally does not affect daily operations, and Taylor dispatchers were answering calls Friday evening.
In its petition, filed in U.S. Bankruptcy Court, Taylor listed assets of $20 million and liabilities of $7 million.
While company officials could not be contacted to explain the reasons for the filing, Taylor last year lost a $15-million contract to provide services for the huge Los Angeles Unified School District. Last month, Taylor filed a $15-million claim against the district, alleging that district officials acted improperly in canceling the contract.
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