Plextronics, Inc. announced that it has filed a voluntary petition under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. Plextronics also filed a motion seeking authorization to pursue a sale process under Section 363 of the U.S. Bankruptcy Code. To this end, Plextronics has entered into an acquisition agreement with Solvay America, Inc. as a “stalking horse” bidder, which it has submitted to the Bankruptcy Court on Jan. 16. Under the proposed agre...