August 29, 2019 / 4:30 PM / 21 days ago

Philadelphia Energy Solutions gauges interest for sale

Aug 29 (Reuters) - Philadelphia Energy Solutions said on Thursday it has started a process to solicit interest from potential suitors for the company or its assets.

The company filed for Chapter 11 bankruptcy protection in July, its second such filing in less than two years, after a fire prompted it to close the largest refinery on the U.S. East Coast.

On Wednesday, the company’s former Chief Executive Officer Philip Rinaldi said he was looking to buy and restart the 335,000 barrel-per-day refinery. (Reporting by Debroop Roy in Bengaluru; Editing by Shounak Dasgupta)

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