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FTI Consulting handles the reorganization of Wolfspeed Inc. as the Durham, NC-based semiconductor company moves to slash its debt load.
Its restructuring support agreement reduces 70 percent ($4.6B) of its overall debt, and cuts annual interest payments by 60 percent.
The strengthened balance sheet puts Wolfspeed in the best position possible for the future, according to CEO Robert Feurle.
“A stronger financial foundation will enable us to focus acutely on innovation in rapidly scaling verticals undergoing electrification where quality, durability and efficiency matter most,” he said.
Wolfspeed expects to emerge from Chapter 11 by the end of the third quarter.
In May, Wolfspeed expressed concern over its financial viability due to weak demand, economic uncertainty and Trump’s tariff policies. It lost $949M on $560M net revenues for the nine-month period ended March.
FTI Consulting’s Rachel Chesley and Rose Temple represent Wolfspeed.
WPP tops the Financial Times’ list of the biggest stock market losers for 2025. The share price of the owner of Burson and Ogilvy has plummeted 60 percent so far this year.
FTI Consulting handles media for Modivcare Inc., the Denver-based provider of non-emergency healthcare services. as a Texas federal bankruptcy court confirms its Chapter 11 restructuring plan.
WPP shares have been dropped from the London Stock Exchange’s prestigious FTSE 100 index as its stock market price has plunged by two-thirds this year.
Public Policy Holding Company registered 23.8 percent Q3 growth to $48.8M, with organic growth contributing 4.5 percent and the balance driven by merger & acquisition activity.
Publicis Groupe reported 3.1 percent in Q3 growth to $4B, sparked by a 3.6 percent jump North America, its biggest market.
