NEW YORK - Velo Holdings Inc., the parent company of direct marketing services company V2V Holdings LLC, on April 2 filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York, citing $713 million in liabilities and only $350 million in assets (In Re: Velo Holdings Inc., No. 12-11384, Chapter 11, S.D. N.Y. Bkcy.).