New Fortress falls after bankruptcy warning in quarterly filing

New Fortress Energy (NFE) disclosed in its quarterly filing that if can’t make scheduled payments on its debt. As a result, lenders could declare all outstanding principal and interest to be due and payable, could force the company into bankruptcy or liquidation, New Fortress said in the filing. The company is considering “all options available, including asset sales, capital raising, debt amendments and refinancing transactions, or other strategic transactions that seek to provide additional liquidity and relief from acceleration under its debt agreements.” New Fortress warned that “if unsuccessful in these strategic alternatives, the Company may be required or compelled to pursue additional restructuring initiatives to preserve value and optionality, including possible out of court restructurings, or in-court relief, in the U.K. or the U.S., which could have a material and adverse impact on stockholders.” Shares of New Fortress Energy are down 10% to $1.31 in morning trading.