Chipmaker Wolfspeed prepares to file for bankruptcy within weeks: Reports

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Semiconductor supplier Wolfspeed is preparing to file for bankruptcy within weeks, as it struggles to address its debt pile, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter.

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 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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Chipmaker Wolfspeed prepares to file for bankruptcy within weeks: Reports


Semiconductor supplier Wolfspeed is preparing to file for bankruptcy within weeks, as it struggles to address its debt pile, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter.

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 Chapter 11 bankruptcy that would have the support of a majority of its creditors, after rejecting several out-of-court debt…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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