Recycling Co. Strategic Materials Hits Ch. 11 With $433M Debt

By Alex Wittenberg (December 5, 2023, 11:21 AM EST) -- Glass recycling company Strategic Materials Inc. filed for Chapter 11 protection in a Texas bankruptcy court with about $433 million in debt and a plan to hand lenders its business, after struggling to meet payments on floating-rate debt that's become "significantly more expensive" as interest rates have risen....

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