Mallinckrodt considers Chapter 11 as ‘advanced discussions’ continue

Mallinck­rodt is con­sid­er­ing fil­ing for Chap­ter 11 bank­rupt­cy for the sec­ond time in three years as it again de­lays mak­ing a pay­ment re­quired as part of its $1.7 bil­lion opi­oid set­tle­ment.

The Irish drug­mak­er said Tues­day in an SEC fil­ing that it is in the mid­dle of “ad­vanced dis­cus­sions” about the pos­si­bil­i­ty of a re­struc­tur­ing sup­port agree­ment.

The com­pa­ny pushed back mak­ing a $200 mil­lion pay­ment re­quired as part of the opi­oid set­tle­ment for the sec­ond time. It was orig­i­nal­ly due June 16; that due date was moved to Aug. 15 and is now Aug 22. It has al­so missed in­ter­est pay­ments.

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