A vessel owning unit of Louisiana shipowner and shipbuilder Edison Chouest Offshore (ECO) is reportedly considering a pre-packaged bankruptcy filing in a bid to restructure its balance sheet.

If the effort moves forward, it would see the company’s Nautical Solutions unit file for Chapter 11 bankruptcy protection, unnamed sources told the news service of financial intelligence provider Reorg.

ECO chief financial officer Charlie Comeaux declined to comment on the report, and a communications executive for the company could not be immediately reached.