Wolfspeed exits Chapter 11 bankruptcy, slashes debt and interest costs
Chipmaker Wolfspeed said on Monday it has exited Chapter 11 bankruptcy after cutting its total debt by nearly 70% and lowering annual cash interest expense by roughly 60%.
The company said it has sufficient liquidity to continue supplying customers with silicon carbide-based chips.
Wolfspeed filed for Chapter 11 protection in late June in the U.S. Bankruptcy Court for the Southern District of Texas, after flagging going‑concern doubts in May, citing deepening economic uncertainty from changing U.S. trade policies and weakening demand that triggered financial challenges.
