Wolfspeed debt restructuring talks hit deadlock, bankruptcy risk rises

Wolfspeed's debt restructuring talks have stalled, and the company has had to reiterate that it will consider filing for bankruptcy. The company currently has total debt of $6.5 billion, including a $1.5 billion senior secured loan held by a consortium led by Apollo Global Management. If the company chooses bankruptcy, Apollo and its co-investors may have an advantage in a court-supervised recapitalization.