PG&E Enters Bankruptcy Protection After California Wildfire Fallout


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PG&E Corp. said it will seek Chapter 11 bankruptcy protection, a day after the company’s CEO stepped down over the financial fallout spurred by its role in helping spark the California wildfires.

The company and its wholly owned subsidiary, Pacific Gas & Electric Co., said they plan to file a petition on or around Jan. 29, though companies are required by law to give a 15-day advance notice to California state of its intention to file a Chapter 11 petition.

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