The Houston-based energy engineering and construction firm, Willbros Group, is considering filing for bankruptcy or selling all of its assets as it continues to struggle financially.
Willbros, which is already selling its pipeline construction business, is now putting the rest of the company up for sale. Willbros said it is in “advanced discussions with multiple parties” regarding a potential sale of all or most of its assets.
As it has struggled in recent years, Willbros dealt with investor activism that led to the ouster of its former Chairman and CEO John McNabb in 2015. Fournier, who has served as the president and chief operating officer, was promoted to CEO at that time. But the company still has struggled to survive through the recent oil bust and to recover as oil prices rose last year.
This first appeared on the Houston Chronicle – an Energy Voice content partner. For more click here.
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