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PG&E Will File for Bankruptcy in California Due to Costly Wildfires

9 monthes ago   |   By Time

PG&E Corp. said it will file for bankruptcy in California after the cost of wildfires left it with potential liabilities of $30 billion or more, gutting its share price and prompting the departure of its chief executive officer.
The San Francisco-based company said it intends to reorganize under Chapter 11 of the U.S. bankruptcy code on or about Jan. 29 after giving the required 15-day notice to employees, according to a filing at the Securities and Exchange Commission Monday. On Sunday, the company started searching for a new leader after Geisha Williams, 57, resigned as chief executive...
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Bankruptcy Looms for PG&E After California Wildfires and CEO Departure

9 monthes ago   |   By Fortune

PG&E said it will file for bankruptcy in California after the cost of wildfires left it with potential liabilities of $30 billion or more , gutting its share price and prompting the departure of its chief executive officer.
The San Francisco-based company said it currently intends to reorganize under Chapter 11 of the U.S. bankruptcy code on or about Jan. 29 after giving the required 15-day notice to its employees, according to a filing at the Securities and Exchange Commission on Monday. On Sunday, the company started searching for a new leader after Geisha Williams , 57, quit as CEO...
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