Wolfspeed to file for Chapter 11 in deal cutting 70% of debt
Power chip biz to hand over equity to lenders, wipe out most shareholders, and keep running during restructuring Wolfspeed, maker of bandgap chips for power and radio frequency applications, is to file for Chapter 11 bankruptcy in the "near future" after striking an agreement with creditors to cut its $6.5 billion debt by roughly 70 percent....