California Utility Company PG&E Files For Bankruptcy After Devastating Wildfires

Credit: WorldNews- Published on January 14, 2019
One of the largest power utilities in the United States said it was preparing to file for Chapter 11 bankruptcy on Monday after its businesses are facing massive liabilities linked to wildfires in 2017 and 2018, according to Reuters. California's PG&E Corp's shared fell 55 percent in early trading after it released a statement...
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Credit: Wochit News
Published on January 14, 2019 -  00:38
California Utility Linked To Wildfires Will File For Bankruptcy
Pacific Gas and Electric is the power company blamed for sparking several devastating wildfires in California in recent years. The Huffington Post has reported that the company plans to file for bankruptcy later this month as it's facing billions of dollars in claims related to November’s Camp fire. The Camp Fire destroyed nearly 19,000 structures and killed at least 86 people.

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