United Site Services (USS) filed for Chapter 11 today (29 December) with a restructuring support agreement (RSA) that eliminates about USD 2.4bn of funded debt and hands control to creditors.

The largest US provider of portable sanitation and site services entered bankruptcy in the US Bankruptcy Court for the District of New Jersey along with 21 co-debtors, supported by an RSA executed on Sunday (28 December) between USS, its equity sponsor Platinum Equity Advisors, and an ad hoc group of lenders holding the majority of the company’s secured and unsecured funded debt.

According to a first day declaration from Chris Kelly, managing director at Alvarez & Marsal North America (A&M), the filing followed prolonged financial distress driven by inflation, declining construction activity, and sharply rising financing costs. Kelly said USS previously completed a major recapitalization in 2024 that reduced debt by roughly USD 200m and raised USD 300m of new capital. However, weaker-than-expected construction demand and continued macroeconomic pressure left the balance sheet unsustainable, requiring a court-supervised restructuring.