Enviva plummets again, prepares to file bankruptcy

Enviva plummets again, prepares to file bankruptcy

Losses were hefty and plenty Tuesday on our Mobile and Alabama Stock Report, but none bigger than Enviva.

The nation’s largest exporter of wood pellets dropped the most at -19.3%, or 11 cents, to close at 45 cents a share. It was also reported Tuesday by the Wall Street Journal that Enviva is preparing to file for Chapter 11 bankruptcy.

After reporting big losses in the fall, the Maryland-based company missed a $24.4 million bond payment last month, helping drive its stock price to new lows.