Lincolnshire PC failed to act after man seen ‘covered in blood’

(Reuters) -Semiconductor supplier Wolfspeed is preparing to file for bankruptcy within weeks, as it struggles to address its debt pile, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter.

Shares of the company fell over 57% in extended trading.

Wolfspeed has been grappling with sluggish demand in industrial and automotive markets and tariff-induced uncertainty.

The company is looking to file for Chapter 11 bankruptcy that would have the support of a majority of its creditors, after rejecting several out-of-court debt restructuring proposals from creditors, the report said.

Wolfspeed declined to comment when contacted by Reuters.

The company, which manufactures chips using silicon carbide, raised going-concern doubts and forecast weaker-than-expected annual revenue earlier this month.

The company expects revenue of $850 million in 2026, below analysts’ estimate of $958.7 million.

(Reporting by Juby Babu in Mexico City; Editing by Vijay Kishore and Mohammed Safi Shamsi)

  • Related Posts

    Former Michigan police officer accused of sexual misconduct while on duty

    Dive Brief: The former finance chief of Miami-based Real Brokerage alleges she was discriminated against basedon her gender and pregnancy status,and ultimately fired to “clear the way for her less…

    Gym teacher arrested on child sex abuse charges, police say

    Earlier this year, Georgia Baxter-Krause of wood products company J.H. Baxter pleaded guilty to violating environmental lawsthen lying about it to federal regulators. An attorney with a class-action lawsuit says…