Philadelphia Energy Solutions (PES) filed for its second Chapter 11 bankruptcy i...
FILE PHOTO: The Philadelphia Energy Solutions oil refinery is shown following a recent fire that caused significant damage to the complex, in Philadelphia, Pennsylvania, U.S., June 26, 2019. REUTERS/Laila Kearney/File Photo
PES said in June it will seek to permanently shut its oil refinery in Philadelphia after the massive fire caused substantial damage to the complex. The refinery, struggling financially for years, slashed worker benefits and scaled back capital projects to save cash. The company has both assets and liabilities between $1 billion and $10 billion, a filing made in U.S. Bankruptcy Court for the District of Delaware showed.
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