SFTBY - SoftBank-backed Katerra files for bankruptcy

SoftBank-backed ([[SFTBF]],[[SFTBY]]) construction company Katerra has filed for Chapter 11.Katerra says it secured $35M in debtor-in-possession financing from SB Investment Advisers to fund operations during the process.The company lists its liabilities between $1B and $10B and its assets at $500M to $1B.Yesterday, Katerra said most of its U.S. projects would come to an end, but international operations aren't expected to be impacted at this time.SoftBank Vision Fund holds a majority stake in Katerra.Last week, The Information reported that Katerra was shuttering operations. Earlier this year, Vision Fund-backed Greensill Capital collapsed.

For further details see:

SoftBank-backed Katerra files for bankruptcy