Construction firm Katerra Inc. filed for bankruptcy protection in the U.S., bookending the implosion of a startup that raised about $2 billion from investors including SoftBank Group Corp.
The company filed Chapter 11 proceedings in the Southern District of Texas court. It estimated liabilities of $1 billion to $10 billion and assets of $500 million to $1 billion. The company said in a separate statement it has secured $35 million of debtor-in-possession financing from an arm of SoftBank, a lifeline to tide it over.
