Toshiba has filed for bankruptcy Westinghouse Electric
As you know, Toshiba is now in a very difficult financial position. Due to problems with the nuclear business, the Japanese giant has to sell a large part of the semiconductor.
The essence of the situation is that a subsidiary of Toshiba — Westinghouse Electric — specializing in nuclear energy, for a number of reasons, including reduced demand for electricity, the fall of natural gas prices in the USA and cost overruns in projects proved unprofitable and already «brought» Toshiba more than $ 6 billion of losses.
In the end, to somehow smooth out the situation, the Japanese company appealed to the lawyers in connection with the possible bankruptcy of Westinghouse. And now it is reported that Westinghouse Electric filed for bankruptcy. At the moment the company has a total debt of $ 9.8 billion dollars.