Durham-Based Wolfspeed to File for Bankruptcy Within Weeks

Durham-based Wolfspeed to file for bankruptcy within weeks

Wolfspeed, the semiconductor supplier headquartered in Durham, faces uncertainty as it prepares to file for Chapter 11 bankruptcy in the coming weeks. According to an article in The Wall Street Journal on Tuesday, the company is pursuing a prepackaged Chapter 11 plan, after its largest backer refused multiple attempts by creditors to restructure its debt out of court. Chapter 11 is a common bankruptcy that allows distressed companies to continue…

The US semiconductor manufacturer Wolfspeed is facing bankruptcy. The shock waves extend to Saarland. Only one was right with his concerns.

Until recently Wolfspeed had plans for a new plant in Germany. Now the American chip manufacturer is in a difficult situation.

Wolfspeed reportedly preparing for bankruptcy

Wolfspeed is said to be preparing a Chapter 11 bankruptcy filing within weeks, according to reports from The Wall Street Journal and Reuters. The move comes after failed restructuring talks and growing financial pressure from falling demand and aggressive Chinese competition.