Plastics Recycler CarbonLite Files for Bankruptcy

Date: March 8, 2021

Source: News Room

CarbonLite, self-proclaimed as the largest producer of food grade recycled plastic, has recently filed for chapter 11 bankruptcy. The filing covers the company's main facility in Riverside, CA, and other recycling plants in Texas and Pennsylvania that supply major beverage makers like Coca-Cola Co., Nestle Waters North America Inc. and PepsiCo. The company cites issues related to the global pandemic as the primary loss driver.

The Covid-19 pandemic has undoubtedly played a major role in the downfall of many firms over the course of this past year. However, it has yet to be seen if the pandemic was the sole reason behind the downturn of CarbonLite specifically.

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