US EditionAscend Performance Materials Takes Steps to Strengthen Balance Sheet and Position the Company for a Stronger Future
- Ascend Performance Materials, a high-performance materials producer, began a restructuring process on April 21, 2025, in Houston.
- Ascend initiated Chapter 11 cases to deleverage its balance sheet and pursue a restructuring with lender support.
- The company secured $250 million in financing and filed motions to support operations, including paying employees and suppliers.
- Ascend's CEO, Phil McDivitt, stated they have been defining the best path forward with lenders who "believe in the underlying value" of Ascend.
- Ascend expects the restructuring will reduce debt, position it for long-term strategy execution, and complete in about six months.
29 Articles
29 Articles
Farm Talk Newspaper
Ascend Performance Materials Takes Steps to Strengthen Balance Sheet and Position the Company for a Stronger Future
Initiates restructuring process with support from existing lenders to strengthen balance sheet and improve financial foundation
Ascend Files For Chapter 11 Bankruptcy; Local Site To Continue Normal Operations : NorthEscambia.com
Ascend Performance Materials on Monday filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas. If approved, Chapter 11 allows a company to reorganize its finances without the threat of creditors’ lawsuits. The reorganization plan must be accepted by a majority of its creditors. The Pensacola Ascend plant on Chemstrand [...]
Kirkland, Bracewell Lead Chemical Company in Billion-dollar Bankruptcy - The Texas Lawbook
Houston-based Ascend Performance Material and eight of its affiliated businesses filed for Chapter 11 bankruptcy protection Monday citing $1 billion to $10 billion in liabilities, according to its filing in the Southern District of Texas. The post Kirkland, Bracewell Lead Chemical Company in Billion-dollar Bankruptcy appeared first on The Texas Lawbook.
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