IHS Chemical Week

People & Business :: Earnings/Finance

Cereplast files for bankruptcy

2:30 PM MST | February 18, 2014 | Rebecca Coons

Biobased plastics firm Cereplast (Seymour, IN) announced yesterday that it has filed for Chapter 11 protection in the United States Bankruptcy Court for the Southern District of Indiana. The company says it has taken this action to “strengthen its balance sheet, clean up its capitalization structure and gain financial flexibility as it continues to realign its operations.” It intends to continue to operate during the reorganization process. "We intend to use the reorganization process to help implement our plan to lower costs, stabilize our...

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