Glassware Maker Libbey Goes Bankrupt With Bars, Restaurants Shut

Libbey Inc., the U.S. glassware maker, filed for bankruptcy after the Covid-19 pandemic intensified a burdensome debt load and strained its access to cash.

The company filed for Chapter 11 protection from creditors in Delaware after the virus and related state-imposed lockdowns gutted demand for its tumblers, mugs and bowls among key food-service customers like restaurants and bars. Libbey had been reviewing its debt pile before the outbreak and had already tried and failed to refinance its term loans, according to court papers.

Libbey listed assets of as much as $500 million and liabilities of at least that ...