US-based chemical recycling company Brightmark has filed for bankruptcy for three subsidiaries associated with its Ashley, Indiana pyrolysis plant. The affected entities are Brightmark Plastics Renewal LLC, Brightmark Plastics Renewal Indiana, and Brightmark Plastics Renewal Services LLC. According to court filings in the United States Bankruptcy Court for the District of Delaware, these subsidiaries are burdened with approximately $178.35 million in secured debt. This includes $172.5 million in green bonds, with a missed bond payment of $12.9 million on March 1. Additionally, there is an outstanding bridge loan of $5.585 million issued on March 5.
The subsidiaries also disclosed around $1.81…