TPI Composites Initiates Voluntary Chapter 11 Proceedings to Facilitate Restructuring for Long-Term Success

TPI Composites, a leading wind blade manufacturer, has filed for Chapter 11 bankruptcy protection to restructure its financial obligations and position the company for long-term success. The company secured up to $82.5 million in debtor-in-possession financing to maintain operations during restructuring and plans to continue manufacturing and blade services. TPI intends to emerge from bankruptcy as a stronger entity, capable of delivering innovative wind blade solutions.

TPI Composites, a leading manufacturer of wind turbine blades, has announced that it has filed for Chapter 11 bankruptcy protection. The move, announced on August 11, 2025, is aimed at restructuring the company's financial obligations and positioning it for long-term success. The company has secured up to $82.5 million in debtor-in-possession financing to maintain operations during the restructuring process [1].

The Chapter 11 filing allows TPI to continue operating while it reorganizes its finances and operations. The company has stated that it expects to continue normal business operations and meet its financial obligations in the ordinary course. The restructuring process is expected to provide TPI with additional financial flexibility, enabling it to invest in operations and execute strategic initiatives [1].

TPI has reached an agreement for a debtor-in-possession financing facility of up to $82.5 million to be provided by its senior secured lenders, including funds affiliated with Oaktree Capital Management, L.P. This financing is subject to final documentation and approval of the Bankruptcy Court. The company has emphasized that it is operating normally and does not expect any material operational impact from the Chapter 11 proceedings [1].

TPI's management team will continue to run the day-to-day operations of the business during the Chapter 11 process. The company expects to complete the restructuring process with the support of key financial stakeholders as quickly and efficiently as possible, although a definitive timeline for emergence has not been provided. Key milestones and other information will be available on TPI's website maintained by the claims and notice agent [1].

The restructuring process is not expected to have any impact on TPI's strategic initiatives. In fact, with additional financial flexibility, the company will be better positioned and funded to focus on growth and improved profitability. TPI has assured its customers that there will be no changes to how it works with them, and contracts and agreements remain in place [1].

The company's suppliers and vendors are encouraged to continue providing goods and services to TPI during the Chapter 11 process. The company has secured interim financing and plans to operate its business in the ordinary course, meeting its post-filing obligations to its vendors. Claims for amounts owed for goods and services provided prior to the filing date will be addressed as part of the Chapter 11 process moving forward [1].

TPI's management team will continue to run the day-to-day operations of the business during the Chapter 11 process. The company expects to complete the restructuring process with the support of key financial stakeholders as quickly and efficiently as possible, although a definitive timeline for emergence has not been provided. Key milestones and other information will be available on TPI's website maintained by the claims and notice agent [1].

References:
[1] https://tpicomposites.com/about/financial-restructuring/