PG&E Has Filed For Chapter 11 Bankruptcy...

PG&E has announced plans to file for Chapter 11 bankruptcy. 

This comes a day after the CEO resigned, as the utility company faces a financial crisis. 

Now an interim chief executive will take over. 

John Simon has been serving as the executive Vice President and has been with PG&E since 2007. 

PG&E says its decision to file for bankruptcy will not affect your gas or electric service. 

Also, its workers will still get paid and receive medical benefits. 

As for any rate increases, the company did not touch upon that issue. 

PG&E faces several lawsuits from the Tubbs and Camp Fires. 

(Photo Credit: Getty Images)

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