Troubled Teligent Enters Bankruptcy Proceedings As CEO Resigns
Expects To Conclude Sale Of Entire Business Or Core Assets By Early 2022
Teligent is pursuing an asset sale process to “maximize the value of the company” after entering into Chapter 11 bankruptcy proceedings in the US. The firm – which has also seen CEO Tim Sawyer resign – had been struggling of late with remediation issues to address a warning letter at its Buena manufacturing facility in New Jersey, as well as a recent recall.
