Chemical Firm Unigel Prepares to File for Bankruptcy in Brazil
- Manufacturer’s earnings plummeted as fertilizer prices fell
- Fertilizer firm recently cut to default by S&P Global Ratings
Unigel
Source: Unigel/PR NewswireThis article is for subscribers only.
Unigel Participacoes SA is preparing to file for bankruptcy protection in Brazil after talks with creditors stalled, said people familiar with the matter.
The chemical producer was granted a 60-day protection from creditors by a court on Dec. 14, but a mediation process didn’t result in an agreement, the people said, asking not to be identified as negotiations are private.