My guess would be that they don't plan to continue the business and they will simply shutter it and disappear. This isn't based on anything I know about the company or their plans, just a logical reason why they would dismiss the Chapter 11. If you do not plan to continue the business, you don't really need a bankruptcy for a corporation. "You just lock the doors (or don't) and walk away," as my bankruptcy professor once said.
Or, maybe it was just not possible to get a plan confirmed. In this scenario, creditors would just be freed up to proceed under non-bankruptcy law for collections.
Who knows? Maybe they came into some cash and just don't need it anymore. Whatever the reason, they must have decided that they didn't need the protections provided under the Bankruptcy Code.
Best,
Robert A. Franco
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