Shares of the company fell over 57% in extended trading.
Wolfspeed has been grappling with sluggish demand in industrial and automotive markets and tariff-induced uncertainty.
The company is looking to file for ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/chapter-11-bankruptcy” target=”_blank”>Chapter 11 bankruptcy that would have the support of a majority of its creditors, after rejecting several out-of-court debt…

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