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Charge Enterprises Inc., a public company building charging stations for electric vehicles and broadband infrastructure, filed bankruptcy to implement a restructuring plan that will hand control of the business to senior lender Arena Investors.
Charge Enterprises’s assets have a book value of more than $114 million compared to liabilities of roughly $48.7 million, according to papers it filed Thursday in Delaware bankruptcy court. The company said it started polling creditors on its restructuring plan earlier this week and will seek to win bankruptcy court approval on the Arena deal by April 24.
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