PG&E Corporation disclosed this morning that it and its regulated utility subsidiary, Pacific Gas and Electric Company expect to file for chapter 11 bankruptcy protection with $5.5 billion in committed DIP financing on or around Jan. 29. In an 8-K this morning, PG&E said it is facing “extraordinary challenges relating to a series of catastrophic wildfires that occurred in Northern California in 2017 and 2018” and has made the determination to file for bankruptcy after a “comprehensive review with the assistance of outside advisors,” the boards of directors of the corporation and the utility. The company also announced yesterday that Geisha Williams had resigned from the CEO role, with John Simon replacing her in the interim.