Citing a range of factors that have weakened its finances, Katerra filed for Chapter 11 bankruptcy protection in federal court in Houston on June 7.
In a statement published June 6, the firm, which served as a construction designer, contractor and suppler, said it will keep running with $35 million in debtor-in-possession financing from SB Investment Advisers (UK) Ltd. Projects that Katerra still has underway will proceed, it said. After that, the company will undergo an in-court restructuring and “an orderly wind down of its business.”