PG&E announced Monday morning that it is preparing to file Chapter 11 Bankruptcy as it deals with lawsuits following devastating wildfires in 2017 and 2018. The announcement comes one day after the utility's CEO resigned. In a statement, PG&E said: "The company does not expect any impact to electric or natural gas service for its customers as a result of the Chapter 11 process. PG&E remains committed to assisting the communities affected by wildfires in Northern California, and its restoration and rebuilding efforts will continue." It does appear that the company is preparing for potential liabilities from the roles it may have played in the 2017 Tubbs Fire and the 2018 Camp Fire. The utility giant's stock was down nearly 50 percent in trading early Monday morning on Wall Street. Consumer advocates are concerned that customers could be picking up the bill.