TPI Composites Files for Chapter 11 Bankruptcy Protection

TPI Composites has filed for Chapter 11 bankruptcy to pursue a comprehensive restructuring. The company's shares fell 37.2% in after-market trading and finished the regular trading day with a 10.4% loss. TPI is seeking to restructure its debt and has launched voluntary Chapter 11 proceedings in the US Bankruptcy Court for the Southern District of Texas.

TPI Composites Inc. (NASDAQ: TPIC), a Scottsdale, Arizona-based manufacturer of composite wind turbine blades, has filed for Chapter 11 bankruptcy protection. The company announced its voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas on August 11, 2025. The filing comes amidst significant financial challenges, with the company reporting $591.7 million in assets and $1.1 billion in liabilities as of June 30, 2025 [2].

TPI Composites' shares fell 37.2% in after-market trading following the announcement and closed the regular trading day with a 10.4% loss. The company stated that it has agreed to a debtor-in-possession financing facility of up to $82.5 million from senior secured lenders affiliated with Oaktree Capital Management. This facility includes up to $27.5 million in new money to support day-to-day operations and up to $55 million rolled over from the existing senior secured credit facility [1].

CEO Bill Siwek acknowledged the financial pressures and stated, "Despite recent progress, industry-wide pressures have created financial challenges that must be addressed. We explored a variety of alternatives to address the challenges facing the company and believe that a chapter 11 process is necessary to position the company for success."

The Chapter 11 filing indicates that no funds will be available for distribution to unsecured creditors after administrative expenses are paid. The case number is 25-34655 [2]. Key parties involved in the restructuring process include Gabriel A. Morgan and Matthew S. Barr from Weil, Gotshal & Manges LLP, financial advisor Alvarez & Marsal North America, LLC, and investment banker Jefferies LLC.

Investors and financial professionals are advised to closely monitor the developments in this case, as it could have significant implications for the wind energy sector and the company's future prospects.

References:

[1] https://seekingalpha.com/news/4483555-tpi-composites-files-for-chapter-11-bankruptcy
[2] https://bondoro.com/tpi-composites-filing-alert/