New York (CNN Business) The owner of the Philadelphia refinery rocked by an explosion and massive fire early Friday has been struggling financially for a number of years.

Refinery owner PES Holdings, a unit of Philadelphia Energy Solutions, filed for bankruptcy in January of 2018. It was able to emerge from bankruptcy by August of last year after restructuring $635 million of debt it couldn't afford. But filings show it is still facing challenges.

PES had $149 million in cash on hand after it emerged from bankruptcy. But it has already burned through nearly half of that — it had only $86 million on hand as of March 31.

The company operates two refineries in the Philadelphia area that together account for about 28% of the gasoline supply for the Northeast, producing about 335,000 barrels a day of gasoline and other product, according to its bankruptcy filing.

When it emerged from bankruptcy, the company said it had a bright future ahead of it and that it would invest in the facility. But it has been facing a continued cash crunch, according to a Reuters report from April. Reuters said PES scaled back a maintenance program that had been scheduled for January, and it suspended employee bonuses.

Read More