Ineos Faces Debt Crisis, Vulture Funds Circle

Ineos, led by Sir Jim Ratcliffe, faces a severe financial crisis amid a downturn in the chemicals industry, reminiscent of the 2008 financial meltdown. With billions in debt and distressed bonds trading at low prices, vulture funds and hedge funds are circling. Ratcliffe blames energy costs, Chinese imports, and net zero policies for the companys struggles. Ineos has cut jobs, closed factories, and pulled sports sponsorships, but is pushing ahead with a new plastics plant in Belgium. Analysts warn that without debt reduction, Ineos could become worthless as vultures close in. Checkout Solipillow.comThe Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.