Sunedison Inc SUNE is off to a rough start this week, seen down more than 50 percent in early Monday trading, and currently trading around the $0.23 handle.
It's no real surprise that the issue is having issues, as reports have been swirling regarding the company's plans to file a Chapter 11 bankruptcy.
According to Dow Jones, "The company is preparing a chapter 11 filing and is in talks with two creditor groups to obtain a loan to fund its operations during the process."
"Creditors are likely to take control of the company and its portfolio of power projects," the statement continued.
Are More Bankruptcies On The Horizon?
While SunEdison may be stealing the spotlight for bankruptcy talks, it is not the only name to have had a series of bad press lately.
SandRidge Energy Inc. SDOC has been "mulling" filing for bankruptcy, according to Business Finance News.
"In its 10 filing on Wednesday (March 31), SandRidge Energy Inc. SDOC said it could be forced into bankruptcy amid low energy prices. Its shares currently trade at $0.0455, down by 39.91 percent," Business Finance News' Camilla Pritchard stated.
MannKind Corporation MNKD also appears to be on a path to bankruptcy, according to Alexander Maxwell of Seeking Alpha.
"MannKind Corporation has been a battleground stock for years," Maxwell began. "I previously wrote an article, which can be found here, on why I think MannKind is unfortunatley headed for bankruptcy. Events since that article have only strengthened the case."
But, the company that just can't seem to escape bankruptcy chatter is Valeant Pharmaceuticals Intl Inc VRX.
In mid-February, Benzinga noted that bankruptcy talks for Valeant have been ongoing for more than a year, as Wells Fargo analyst David Maris stated that Valeant had a 58 percent likelihood of filing in 2015.
Related Link: Valeant Credit Analysts Disagree About Its Debt Earlier This Month
Benzinga Polls Twitter
Tweeters provided their imput, with 43 percent of respondents saying Valeant will have that illustrious honor.
MannKind and SandRidge took 23 percent of votes, respectively, and "another solar company" came in at 11 percent of votes.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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