This came after weeks of facing hostile actions from creditors.
According to Bloomberg, Ezra filed voluntary petitions for reorganisation under Chapter 11 of the US Bankruptcy Code. Ezra will hold an informal meeting as soon as “reasonably practicable” to update and provide further information on the Chapter 11 filing to holders of its debt.
“The Ezra Chapter 11 filing is intended to optimise the scope and extent of the restructuring options available and to protect the interests of all stakeholders of the company, including its creditors and shareholders, from hostile actions that could harm the company and its stakeholders by diminishing the group’s value,” Ezra said in a statement.
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