Whenever a company files for bankruptcy, markets and business models are usually blamed. But not every collapse begins with bad strategy or falling demand. Sometimes, natural disasters deliver a fatal blow. Pacific Gas & Electric (PG&E) filed for Chapter 11 in January 2019 after facing tens of billions of dollars in liabilities tied to California wildfires, including the deadly Camp Fire. The company said wildfire-related claims created unsustainable financial pressure, ultimately forcing bankruptcy protection. J.C. Penney, while primarily burdened by debt and declining sales, cited damage from Hurricane Harvey ... (full story)