A Houston-based plastic recycling company, Covenant Plastics Inc., has filed for Chapter 11 bankruptcy in Houston, the Houston Business Journal reported today. Covenant buys, sells and recycles polymers and resins in various forms, according to the company's website. It has filed with the bankruptcy court of the Southern District of Texas. The company is bringing $4.12 million in debt to the bankruptcy proceedings, along with $3.02 million in assets, according to court documents. Its revenues, though, have been growing in the past two years — it reported $2 million in gross revenue in 2015, while 2016 saw $2.52 million, according to the filing.
