SACRAMENTO (CBS13) — Sources are telling Bloomberg that PG&E may notify its staff as soon as tomorrow it intends to file for bankruptcy.

A new state law passed last year requires the company to give its employees a 15-day notice of such action.

ALSO: PG&E Ordered To Inspect All Territory For Trees, Equipment That Could Cause Wildfires

According to Reuters, PG&E is already talking to banks about a multibillion-dollar financing package to help navigate bankruptcy proceedings.

The utility is crippled with liabilities from California’s deadly wildfires, facing as much as $30 billion in damages, a prospect that has wiped out two-thirds of PG&E’s market value.

NEW: PG&E announced today it’s seeking a new Chief Executive Officer following the departure of Geisha Williams. The Board of Directors has named John Simon Interim CEO.


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