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Toshiba's Westinghouse to file for U.S. bankruptcy Tuesday - sources | Reuters

TOKYO U.S. nuclear developer Westinghouse Electric Co plans to seek bankruptcy protection from creditors on Tuesday as it struggles with losses that have thrown its Japanese parent Toshiba Corp into crisis, people familiar with Toshiba's thinking said.

Pittsburgh-based Westinghouse, crippled by cost overruns at two U.S. projects in Georgia and South Carolina, will file for protection under Chapter 11 of the U.S. Bankruptcy Code, the people told Reuters on Tuesday.

One of the sources has direct knowledge of the decision and one has been briefed on the matter.

Toshiba media representatives could not immediately be reached for comment outside office hours. (Reporting by Kentaro Hamada and Taro Fuse; Editing by William Mallard)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Published Date: Mar 28, 2017 20:59 PM | Updated Date: Mar 28, 2017 20:59 PM

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