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Wood pellet manufacturing company with facility at Port of Wilmington files for bankruptcy

Saturday, July 27th, 2024

WILMINGTON, N.C. (WECT) – Enviva Inc., a wood pellet manufacturing company with a facility in the Port of Wilmington, has filed for bankruptcy.

According to a release on the company’s website, Enviva has begun voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Virginia.

The company also announced a restructuring plan with a goal of reducing debt by approximately $1 billion and to improve profitability.

The statement did not mention how this will affect the company’s Wilmington facility.

Enviva’s terminal at the Port of Wilmington has been in place since 2016 and serves as a shipment point for pellets manufacture at its Sampson and Hamlet plants.

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