Brightmark files for bankruptcy at Indiana chemical recycling facility [Yahoo! Finance]
UMB Financial Corporation (UMBF)
Last umb financial corporation earnings: 4/28 05:00 pm
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Source: Yahoo! Finance
Dive Brief: Three subsidiaries of Brightmark filed for Chapter 11 bankruptcy on Monday in a Delaware court. As part of the plan to address $178.3 million in debt, the subsidiaries plan to sell assets related to the company's pyrolysis facility in Ashley, Indiana. The bankruptcy is specific to the Ashley plastics “circularity center” and does not affect other parts of Brightmark's business, the company said. Brightmark plans to continue operating that facility throughout the court process and said the process is “not intended to have any impact” on the 90 employees who work there, according to a news release Brightmark said it will still continue plans to build another facility in Thomaston, Georgia, which it announced in 2024 . The company is in the process of filing for an air permit for that $950 million project. Dive Insight: Brightmark's challenges in Ashley mirror recent news from some other chemical recyclers facing operational and financial stumbling blocks as they w
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