Muni-Backed Tire Recycler Files Chapter 7 Bankruptcy

Pyrolyx USA Indiana LLC filed for Chapter 7 protection -- a liquidation bankruptcy -- in Delaware, according to court papers.

• Co. lists assets and liabilities of at least $50 million each
• Pyrolyx USA Indiana in April said it couldn’t make loan payments backing municipal bonds sold in 2017 after it shut its plant in Terre Haute because of the coronavirus outbreak
• Entity is a U.S. unit of Pyrolyx AG
  • Pyrolyx turns used tires into carbon black, which it calls an “essential ingredient” in tires, non-tire rubber goods, and specialty uses
• In its bankruptcy petition, Pyxrolyx USA Indiana lists ...