Just Energy Seeks Bankruptcy After Texas Loss
Bloomberg 3/9/2021 Paula Sambo
(Bloomberg) Just Energy Group Inc. filed for court protection in Canada and bankruptcy in the U.S. after suffering crushing losses in the Texas blackouts that plunged millions of people into darkness and the region’s power sector into chaos.
The Canadian retail energy seller, which specializes in electricity and natural gas, is at least the second company to seek court protection in the wake of the crisis. It recently emerged from a recapitalization plan and a board shakeup. Pacific Investment Management Co. is the largest shareholder with a 28.9% stake, according to data compiled by Bloomberg.
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