On June 3, iSun & Units Filed Voluntary Petition For Reorganization Under Chapter 11 Of Title 11 Of U.S. Code In Bankruptcy Court; Debtors Expect To Continue Their Operations In The Ordinary Course Of Business During The Pendency Of The Chapter 11 Cases; Debtors Have Filed Motions Seeking Orders From The Bankruptcy Court Approving A Variety Of "First Day" Motions
Portfolio Pulse from Benzinga Newsdesk
iSun and its units have filed for Chapter 11 bankruptcy reorganization. They expect to continue operations as usual during the proceedings and have filed motions for court approval of initial actions.
June 07, 2024 | 9:31 pm
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iSun has filed for Chapter 11 bankruptcy reorganization but plans to continue its operations during the proceedings. The company has also filed motions for court approval of initial actions.
The filing for Chapter 11 bankruptcy typically indicates financial distress, which is likely to negatively impact investor sentiment and the stock price in the short term. However, the company's intention to continue operations may mitigate some of the negative impact.
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