Energy & Science
Just Energy Seeks Bankruptcy After Texas Loss
- Company filed for court protection in Canada, U.S. Chapter 15
- Firm recently emerged from recapitalization plan, review
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Just Energy Group Inc. filed for court protection in Canada and bankruptcy in the U.S. after suffering crushing losses in the Texas blackouts that plunged millions of people into darkness and the region’s power sector into chaos.
The Canadian retail energy seller, which specializes in electricity and natural gas, is at least the second company to seek court protection in the wake of the crisis. It recently emerged from a recapitalization plan and a board shakeup. Pacific Investment Management Co. is the largest shareholder with a 28.9% stake, according to data compiled by Bloomberg.