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Wolfspeed Files for Chapter 11 to Slash $5B Debt

6/23/2025

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Summary

Story summary

Wolfspeed, a chipmaker based in Durham, N.C., is preparing to file for Chapter 11 bankruptcy.
The restructuring intends to reduce approximately $5 billion in debt and shift control to creditors.
This decision comes after recent layoffs of over 50 employees in Siler City and prior cuts in Durham.
Customer and vendor commitments will remain intact throughout the bankruptcy proceedings.

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Story summary

Wolfspeed, a chipmaker based in Durham, N.C., is preparing to file for Chapter 11 bankruptcy.
The restructuring intends to reduce approximately $5 billion in debt and shift control to creditors.
This decision comes after recent layoffs of over 50 employees in Siler City and prior cuts in Durham.
Customer and vendor commitments will remain intact throughout the bankruptcy proceedings.