New Fortress Energy Seeks U.K. Lifeline to Dodge Bankruptcy – Shares Crash as $9 B Debt Weighs
Deep Dive: $9 B Debt Crunch Drives Unconventional Plan New Fortress Energy – a company founded by billionaire Wes Edens – grew rapidly in recent years as an integrated gas-to-power provider, building liquefied natural gas terminals, floating LNG (FLNG) facilities, and power plants from the Americas to Asia. But that breakneck expansion came at a cost: nearly $9 billion in debt piled up on its balance sheet news.bloomberglaw.com. When several major projects hit delays and cost overruns, NFE’s revenues and cash flows fell short, making it increasingly difficult to meet its heavy debt obligations news.bloomberglaw.com. The company even suspended its dividend late