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Venator Consults Turnaround Advisers Amid Cash, Earnings Drop

Nov. 21, 2022, 4:43 PM

Chemical producer Venator Materials Plc is getting legal advice from Kirkland & Ellis as its financial losses deepen and cash coffers dwindle, according to people with knowledge of the matter who asked not to be named because discussions are private.

The British company, which makes pigments and additives for the industrial sector, reported lower-than-expected earnings last week as demand for its products waned in Asia and Europe. Chief Executive Officer and President Simon Turner said the company hired Alvarez & Marsal to help improve liquidity and cut costs amid an uncertain outlook.

A representative for Venator declined to comment, while ...