February 18, 2014

Cereplast files for Bankruptcy

It looks like the renewable chemicals/bio-materials industry is now seeing the start of restructuring with LS9 recently being acquired by Renewable Energy Group, Codexis changing its business strategy and focus, and now Cereplast filing for bankruptcy.

The Indiana-based bioplastic producer has filed voluntary petition for relief under Chapter 11 in the US Bankruptcy Court led by the lack of traction of bioplastic demand in the US, repetibantive delays in implementation of the bioplastic regulation in Europe, especially Italy, and legal problems created by several of Cereplast's lenders.

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