💥New Chapter 11 Bankruptcy - Brightmark Plastics Renewal LLC💥
Another filing, another sale process.
On March 16, 2025, San Francisco-based Brightmark Plastics Renewal LLC (“Brightmark Ashley”), Brightmark Plastics Renewal Indiana LLC (“Brightmark Indiana”), and Brightmark Plastics Renewal Services LLC (“Brightmark Services,” and together with Brightmark Ashley and Brightmark Indiana, the “debtors”) filed chapter 11 bankruptcy cases in the District of Delaware (Judge Silverstein). The debtors own and operate a plastics recycling center located in Indiana (the “Circularity Center”), which utilizes advanced (and licensed) recycling tech to “…capture the value in plastic waste by converting mixed post-consumer and post-industrial plastic waste into pyrolysis oil,” a purported building block for circular plastic products that the debtors dub PyBright™.
Sounds cool, right? Have no idea what any of this means, right? Don’t worry, you’re not alone. And when we say “you’re not alone,” we basically mean that the debtors are with you because, generally speaking, the Circularity Center has been a colossal f*ck-up. The debtors’ original business plan envisioned converting waste into fuel and wax products over 3 major steps: