Bankruptcy & Restructuring News Headlines for Monday Nov 13, 2023

Here's what we are reading this morning:

Plug Power Stock Falls 40% After Warning It May Go Bust: Shares of Plug Power are down more than 40% Friday after the upstart hydrogen producer and fuel-cell maker warned it will struggle to stay afloat in the next year without raising additional cash. The shares were on track for their lowest close since April 2020, according to Dow Jones Market Data.

Biomass Leader Enviva Plunges Amid Debt Chaos, Replaces CEO - Bloomberg: Enviva Inc., the world’s largest producer of wood pellets for power plants, warned it may not be able to continue operating after losses surged. The company replaced its leadership and announced plans to review its debt.

IDOB Closed Citizens Bank, Sac City | Iowa Division of Banking: Citizens Bank was established in 1929 and had a main office and drive-up facility at the time of closure. As of its third quarter call report, Citizens Bank reported $65,558,000 in total assets and $58,930,000 in total deposits. Citizens Bank is the first Iowa bank to be closed since 2011.

Hackers claim to have compromised bankrupt Bitcoin ATM firm Coin Cloud: Report | The Block: The hacker claims to have stolen selfies and sensitive personal data belonging to tens of thousands of customers from the U.S. and Brazil.

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