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Pirch, a prominent company in California, has filed for bankruptcy protection due to substantial debts. The American company’s debts amount to $238 million, with the largest creditors being American Express and Worldpay. Despite reporting assets of $54 million, Pirch is facing financial troubles and is set to meet with creditors on May 28th. With 285 employees at risk of potential layoffs, the company is looking to use bankruptcy laws to restructure their debts and gain a new financial start.