Top Biomass Power Supplier Enviva Files For Bankruptcy (1)

Enviva Inc., the world’s biggest supplier of wood pellets for generating electricity, filed for bankruptcy in Virginia, outlining a restructuring plan to cut debt by about $1 billion.

The company listed assets of $100 million to $500 million and liabilities of $1 billion to $10 billion in its Chapter 11 filing. The filing in the US bankruptcy court protects the company from creditors while it finalizes its plan to repay them.

Enviva said separately in a statement that it had entered into two restructuring agreements — one with an ad hoc group of holders representing approximately 72% of its ...