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SoftBank-Backed Katerra Files Bankruptcy With Billions in Debt

  • Construction startup sees liabilities of up to $10 billion
  • Katerra’s collapse is a significant black-eye for SoftBank

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.