Li-Cycle Holdings Files for Bankruptcy Protection Amid Financial Tensions

Published 13 hours agoLICY

Li-Cycle Holdings Files for Bankruptcy Protection Amid Financial Tensions

Li-Cycle Holdings Corp., a Canadian company specializing in battery recycling, has filed for bankruptcy protection in Canada. This move comes as the company grapples with substantial financial difficulties that have prompted this significant legal action.

Earlier, Li-Cycle undertook several operational changes to mitigate its financial struggles. In April 2024, the company laid off about 17% of its global workforce in an effort to streamline its operations, as reported by hcamag.com. Meanwhile, the company is also embroiled in a shareholder class action lawsuit with Canadian investors seeking certification of their claims against Li-Cycle, according to newswire.ca.

Despite these challenges, Li-Cycle received a $75 million investment from Glencore in March 2024 to bolster its financial resilience. However, their market presence took a hit when Li-Cycle's shares were delisted from the New York Stock Exchange in February 2025 for failing to meet listing standards, subsequently moving to the OTCQX Best Market under the ticker 'LICYF.'

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