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Brilliant Energy Files for Bankruptcy After Texas Freeze (2)

March 17, 2021, 4:32 PM

Brilliant Energy LLC filed for bankruptcy in the Southern District of Texas, adding to a growing list of companies that have stumbled after power outages caused by a winter freeze in February.

The Chapter 7 filing signals an intent to liquidate the business while under court protection. The electricity provider has estimated liabilities of $50 million to $100 million compared with assets of $10 million to $50 million, according to its bankruptcy petition.

At their peak, the unprecedented power outages in Texas left four million homes and businesses without heat, light and in some cases water as a rare and ...