Proposed wood pellet plant on hold as company files for chapter 11 bankruptcy
A wood pellet company with a plant in George County and another planned in Stone County has filed for chapter 11 bankruptcy.
Enviva filed for chapter 11 last week after announcing its intention to cut about $1 billion of debt by restructuring agreements with creditors, including those who have invested heavily in new facilities.
The company owes $780 million to a Delaware bank, $348 million to a German energy company, as well as $353 million in bonds from local development authorities in Mississippi and Alabama.
Construction will continue at its location in Epes, Alabama, Enviva said in a March 12th statement, but the development of the facility in bond is pausing until the company finishes restructuring.
