Vertex Energy Initiates Bankruptcy Proceedings, Shares Plunge
Vertex(VERX) ZACKS·2024-09-27 18:31
Shares of Vertex Energy, Inc. (VTNR) plummeted more than 58% on Wednesday after the producer and marketer of refined products announced a Restructuring Support Agreement (RSA) with lenders andfiled for bankruptcy protection. With full support from its lenders, Vertex Energy has commenced a Chapter 11 case in the United States Bankruptcy Court for the Southern District of Texas to expedite the transactions under the RSA. The decision comes after the company failed in the renewable energy sector. Vertex's Res ...