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PG&E to File for Bankruptcy Protection, Engulfed by Wildfire Liabilities
Industry Segment: Power | Word Count: 698 Words
SUGAR LAND--January 15, 2019--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Chaos has engulfed Pacific Gas and Electric Company (San Francisco, California) and its corporate parent, PG&E Corporation (NYSE:PCG) (San Francisco), since the utility disclosed to its employees that the potential liabilities for wildfires in California could cause it to file a Chapter 11 bankruptcy petition. On Monday, the utility and its corporate parent said a Chapter 11 bankruptcy petition for both entities would be filed later this month.
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