British chemicals producer Venator files for U.S. Chapter 11 protection
May 14 (Reuters) - British chemicals producer Venator Materials Plc (VNTR.N) filed for Chapter 11 bankruptcy protection in the United States, the company said in a court filing late on Sunday.
Venator has estimated both assets and liabilities in the range of $1 billion to $10 billion, according to a filing in the U.S. Bankruptcy Court for the Southern District of Texas.
Venator undertook a strategic review of its business earlier this year in an attempt to strengthen its liquidity after one of its top investors, J&T MS 1 SICAV, criticised the British company's poor financial performance.
Reporting by Nilutpal Timsina in Bengaluru; Editing by Savio D'Souza
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