Rentech, Inc., an owner and operator of wood fibre processing and wood pellet production businesses, announced yesterday that it and its subsidiary, Rentech WP U.S. Inc. filed chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware, according to a press release. The purpose of the bankruptcy filing is to seek to sell the assets of the company’s Fulghum Fibres and New England Wood Pellet subsidiaries and facilitate an orderly wind-down of Rentech Inc. The subsidiaries of the company conducting its Fulghum Fibres business in the U.S., which have not filed for bankruptcy protection, entered into an asset purchase agreement on Dec. 15 with an affiliate of Scott Davis Chip Company, Inc. for the sale of substantially all of the assets of that business. The closing of this transaction is subject to specified closing conditions, including the approval of the bankruptcy court.
