PG&E Exits Bankruptcy After Wildfires Pushed It to Brink of Ruin

Nearly a year and a half after collapsing under $30 billion in liabilities from wildfires sparked by its equipment, PG&E Corp. has emerged from the biggest utility bankruptcy in U.S. history.

The California power giant said in a statement Wednesday that it had successfully completed its restructuring and exited Chapter 11.

Now PG&E is left to fend for itself as a new wildfire season is already underway. Critics say the company has yet to fully address the daunting operational challenges it faces, even after overhauling its board and pledging to submit to more state oversight and divide operations into regional ...