Japan-based multinational company (and household name) Toshiba may have to file for bankruptcy, following an unaudited $6.3 billion loss over subsidiary Westinghouse Electric. The Toshiba chairman is also stepping down because of the financial problems.
AndroidAuthorityToshiba has already confirmed it will halt expansion of its US nuclear business, but will reportedly complete its two reactors that are currently under construction in Georgia and South Carolina. The company has also put a halt on its nuclear expansion plans in other countries including the UK. It is unclear how this announcement will affect the sale of the minority stake in Toshiba’s memory business.