Salem Radio Network News Thursday, September 28, 2023


Drugmaker Mallinckrodt says lenders propose another bankruptcy filing

(Reuters) – Drugmaker Mallinckrodt plc said on Monday some of its lenders have proposed that the company consider another bankruptcy filing as it nears a deadline to pay a $200 million opioid settlement.

The company’s board is actively considering options, it said.

Mallinckrodt had earlier reached a $1.7 billion nationwide settlement as part of its bankruptcy reorganization plan and emerged from Chapter 11 last year.

In a filing with the U.S. securities regulator on Monday, the company said it had received letters from several parties, including lenders, that asked the drugmaker to consider alternative options.

The Wall Street Journal first reported on Friday that Mallinckrodt was considering a bankruptcy filing.

(Reporting by Manas Mishra in Bengaluru; Editing by Devika Syamnath)


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