A series of devastating wildfires that killed more than 100 people and scorched hundreds of thousands of acres in California over the course of two years just brought one of the nations largest utilities to its knees.
PG&E Corp., Californias biggest power company, filed for Chapter 11 bankruptcy in Northern California bankruptcy court as investigators probe whether its equipment ignited the deadliest fire in state history. The San Francisco-based company listed more than $50 billion in estimated liabilities. A Chapter 11 filing allows a company to keep operating while it works out a plan to turn the business around and pay off creditors.
Californias wildfires have in the past sa…
Read the full article at: http://fortune.com/2019/01/29/pge-bankruptcy-filing-wildfire-bill/