A Florida company that makes laser sensors for vehicles filed for Chapter 11 bankruptcy protection Monday in Houston, citing $508 million in liabilities owed to more than 200 creditors but only $189 million in assets.
Luminar Technologies hired Weil Gotshal as its lead outside legal advisor, with Houston partner Stephanie Morrison and New York partner Ronit Berkovich leading the way. The company also hired Triple P TRS as its restructuring advisor and Jefferies as its financial advisor and investment bank.
The case has been assigned to Houston Bankruptcy Judge Christopher Lopez.
Luminar lists two law firms — Orrick and McDermott — among its 20 largest creditors, owing the firms $407,000 and $177,000 respectively. Garland-based Austin Circuit Design is the only Texas company listed among the top 30 creditors.
In court records, company officials point to Swedish automaker Volvo ending its contract with Luminar as a primary reason behind the bankruptcy.
The case is In Re Luminar Technologies, SDTX Case No. 25-90807.