"There are a number of reasons why [British Steel's] turnaround has been very badly blown off course but the main one is Brexit,” its owner says.
While the agency's overall financial health improved in 2018, its multiemployer program faces a "tremendous wave of insolvencies."
The German firm says it can no longer operate as a going concern due to a wave of cheap Chinese exports that has slashed solar panel prices.
The final rule narrows the definition of "broad-based eligibility" to avoid bailouts of insolvent firms.
A greater percentage of employees in multiemployer plans that go insolvent will have their benefits cut, says the PBGC.
Why insolvent companies are discovering that filing for bankruptcy is often not the best way to go.
