Company Bankrupt – level 2

23-03-2020 07:00

Last year, the company Pacific Gas & Electric got into financial problems, and it filed for bankruptcy. The company had a plan to raise money to get out of bankruptcy. On Monday, a court approved the help of $23 billion dollars.

The company got into problems after its equipment caused wildfires in California in 2017 and 2018. The California governor did not want to help the company. However, he decided to help when the company found investors. The investors wanted to buy parts of the company.

Pacific Gas & Electric needs to pay a lot of money to wildfire victims and other companies.

Difficult words: file for bankruptcy (when a company cannot pay its debts, and it starts a legal process that helps solve the situation), investor (a person who puts money into something to make more money later), victim (a person who is hurt or injured in a crime or accident).

You can watch the original video in the Level 3 section.

What do you think about this news?


News in Levels is designed to teach you 3000 words in English. Please follow the instructions

How to improve your English with News in Levels: 


  1. Do the test at Test Languages.
  2. Go to your level. Go to Level 1 if you know 1-1000 words. Go to Level 2 if you know 1000-2000 words. Go to Level 3 if you know 2000-3000 words.


  1. Read two news articles every day.
  2. Read the news articles from the day before and check if you remember all new words.


  1. Listen to the news from today and read the text at the same time.
  2. Listen to the news from today without reading the text.


  1. Answer the question under today’s news and write the answer in the comments.


  1. Choose one person from the Skype section.
  2. Talk with this person. You can answer questions from Speak in Levels.


Stock images by Depositphotos