Sustainable chemicals company BioAmber (Montréal, Québec / Canada; www.bio-amber.com) is seeking court approval to liquidate its assets, including its plant in Sarnia, Ontario / Canada, after it had not received any acceptable offers to buy the business by a 27 July deadline. The company filed for bankruptcy protection in the US and Canada in May – see Plasteurope.com of 10.05.2018.

BioAmber added that it will continue to actively engage with qualified bidders and other interested parties to determine if a transaction that would keep the company in operation is still possible. This process is expected to conclude on 14 August.

BioAmber opened its first commercial-scale plant in Sarnia in 2015. Last year, at least two US legal investigations and class actions, including lawsuits to recover losses suffered by BioAmber investors, were planned against the company, based on a poor financial performance – see Plasteurope.com of 23.03.2017.