Pharmaceutical company Mallinckrodt Plc (NYSE:MNK) is set to file for bankruptcy for the second time in less than three years due to business declines and the challenge of meeting payments tied to billions in dollars of settlement to address lawsuits alleging its role in the U.S. opioid epidemic. The company has reached a preliminary restructuring agreement with its creditors, which includes a final payment of $250 million to an opioid-victims compensation trust. The agreement would also reduce the company's total funded debt by about $1.9 billion. The company expects to complete the Chapter 11 process in the fourth quarter of this year.