Shares of Mallinckrodt PLC MNK tumbled 22.0% in premarket trading Monday, after the drug maker disclosed that certain debt holders proposed another bankruptcy filing given the company’s financial position. The proposal comes as the company is required to make a $200 million payment on June 16, as part of its opioid settlement. The Wall Street Journal had reported earlier that the company was exploring a repeat bankruptcy.
The proposal comes as the company is required to make a $200 million payment on June 16, as part of its opioid settlement. The Wall Street Journal had reported earlier that the company was exploring a repeat bankruptcy. Mallinckrodt said there are also proposals from some debt holders that don’t involve a bankruptcy filing.