Enviva preparing to file for bankruptcy, WSJ reports

Enviva is preparing to file for bankruptcy “within days” following a failed gamble on future commodities prices, The Wall Street Journal’s Alexander Gladstone and Jodi Xu Klein report. According to people familiar with the matter, the company entered into a 30-day grace period that expires on Thursday after missing a $24M interest payment owed to its bondholders, and while it plans to file for bankruptcy as soon as the end of the week, it may push the filing back to continue negotiations if the bondholders agree to extend the grace period. A group of Enviva’s bondholders is offering the company financing for the chapter 11 process, the people say.