Trillions in PFAS Liabilities Threaten Corporate Bankruptcy Wave

Companies targeted in litigation for contributing to the proliferation of “forever chemicals” face an uncertain future and a growing risk of being forced into bankruptcy.

Although still in infancy, litigation over per- and polyfluoroalkyl substances, or PFAS, recently led 3M Co. into a multibillion-dollar settlement. Earlier this year, fire detection and suppression company Kidde-Fenwal Inc. blamed its Chapter 11 on more than 4,400 lawsuits that named it as a defendant over its production of PFAS-laden firefighting foam.

The so-called “forever chemicals,” linked to a score of health issues, are found in thousands of everyday products like cosmetics, ...