Ascend Performance Materials, a producer of high-performance and durable engineered materials for everyday essentials and new technologies, completed its financial restructuring process and emerged from Chapter 11 bankruptcy protection. The company’s plan of reorganization, confirmed by the U.S. Bankruptcy Court on Dec. 9, 2025, is now effective.
Ascend achieved the objectives it set for this process, including reducing its total long-term debt by approximately $1.3 billion, securing access to a $350 million asset-based credit facility, strengthening its liquidity position through more than $600 million of new capital provided by its new shareholders and materially lowering its debt service costs.
“Today marks the final milestone in Ascend’s restructuring process, and we are thrilled to be emerging from Chapter 11 with significantly less debt and a much stronger capital structure,” Patrick Schumacher, Ascend’s newly appointed CEO, said. “Thanks to the incredible efforts of our people and the support of our new ownership group, we have strengthened the business and positioned Ascend for future growth. As we move forward, we will increase our investments in reliability and advance our leadership position in nylon resins and engineering thermoplastics.”
