Biotech firm Amyris Inc. on Wednesday said it has filed for chapter 11 bankruptcy in a U.S. court and is planning to sell its consumer brands to improve the company's liquidity position, Reuters reported. Amyris said that it has secured a $190 million financing commitment to support day-to-day operations, adding that its entities outside the U.S. are not included in the bankruptcy proceedings. In a filing with the Delaware bankruptcy court, the company listed estimated assets in the range of $500 million to $1 billion and liabilities in the range of $1 billon to $10 billion. "Restructuring is intended to improve the Company's cost structure, capital structure, and liquidity position while streamlining Amyris' business portfolio to focus on its core competencies in R&D...," the company said. In June, Amyris said it was cutting jobs to reduce costs and appointed Han Kieftenbeld as new interim CEO, following the resignation of John Melo.
