EVA - Largest US Wood Pellet Maker Enviva Prepares Bankruptcy Filing: Report | Benzinga
Wednesday, Enviva Inc (NYSE:EVA), the largest U.S. wood pellet exporter, is on the brink of filing for bankruptcy following substantial losses resulting from an ill-fated speculation on future commodity prices.
The company is facing nine-figure losses and initiated a 30-day grace period after missing a $24 million interest payment to bondholders, set to expire this Thursday.
Enviva, anticipating a bankruptcy filing by the end of the week, might delay if bondholders agree to extend the grace period.
A faction of Enviva’s bondholders is proposing financing for the Chapter 11 process, offering a potential lifeline, ...