Zachry lays off over 4,000 people from LNG project
Zachry Industrial, one of the many entities that declared bankruptcy under Zachry Group, is laying off over 4,000 people.
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Zachry Industrial, one of the many entities that declared bankruptcy under Zachry Group, is laying off over 4,000 people.
Citing "financial challenges" related to the Golden Pass LNG project in Sabine Pass, a major Texas construction company has filed for bankruptcy protection.
CEO John Zachry said the bankruptcy filings provide the mechanism to "initiate a structured exit" from the Golden Pass LNG project near Port Arthur.
Zachry Group, one of the construction firms working on the Golden Pass LNG terminal, disclosed it will eventually exit the project and has filed for
Zachry Holdings, the 100-year-old construction and engineering San Antonio company, has declared bankruptcy.