Key healthcare company files for Chapter 11 bankruptcy
Major healthcare company files for bankruptcy to sell its assets and liquidate its business.
High levels of debt obligations have led several biotechnology and pharmaceutical companies into financial distress, requiring them to file for bankruptcy and, in many cases, seek sales of their assets.
Debtors have often run out of options to obtain capital to refinance debt and will turn to their secured lenders to seek an acquisition of their assets.
