Portable Potty Giant Files Bankruptcy with $2.4B Debt

United Site Services (USS), the largest provider of portable sanitation systems in the U.S., filed for bankruptcy in New Jersey on Monday. The company seeks to eliminate $2.4 billion in debt through a restructuring plan that will transfer control to its lenders. USS's financial struggles were intensified by rising inflation and a slowdown in residential construction, which impacted revenues from key customers like construction sites.

The proposed plan has the support of a majority of lenders but faces opposition from a significant holdout creditor. If approved, the restructuring would fully repay senior lenders and convert $2.4 billion of subordinate debt into equity. USS plans to fund its bankruptcy with a new $120 million loan and aims to complete the court-supervised process by February 2026.

Owned by Platinum Equity Partners since 2017, USS has operated under private equity ownership for over a decade. The company, which serves clients ranging from the Super Bowl to FEMA, offers a wide array of products, including portable toilets and high-end mobile trailers, alongside services like waste transport and temporary fencing. Platinum Equity's investment will be entirely eliminated in this restructuring.