Li-Cycle, a battery recycler, has filed for bankruptcy protection in Canada and the U.S.

From Yahoo Finance: 2025-05-14 22:44:00

Toronto-based lithium battery recycling firm Li-Cycle has filed for bankruptcy protection in Canada and the U.S., with plans to sell its business or assets. The company has secured $10.5 million in financing and a stalking horse credit bid for at least $40 million from Glencore, its largest secured creditor. Li-Cycle cited the need for additional funding to maintain operations. The company has filed for bankruptcy protection under Chapter 15 and the Companies’ Creditors Arrangement Act (CCCAA), a Canadian federal law that allows insolvent corporations to restructure their business and financial affairs. In November last year, the U.S. Department of Energy finalized a $475 million loan for Li-Cycle to address cost overruns and technical issues.



Read more at Yahoo Finance: Battery recycler Li-Cycle files for bankruptcy protection in Canada