{"id":14840,"date":"2024-10-10T17:26:30","date_gmt":"2024-10-10T17:26:30","guid":{"rendered":"https:\/\/pro-truckdrivers.com\/blog\/michigan-semi-truck-parts-manufacturer-files-for-chapter-11-bankruptcy-protection\/"},"modified":"2024-11-15T16:49:15","modified_gmt":"2024-11-15T16:49:15","slug":"michigan-semi-truck-parts-manufacturer-files-for-chapter-11-bankruptcy-protection","status":"publish","type":"post","link":"https:\/\/pro-truckdrivers.com\/blog\/michigan-semi-truck-parts-manufacturer-files-for-chapter-11-bankruptcy-protection\/","title":{"rendered":"Michigan semi truck parts manufacturer files for Chapter 11 bankruptcy protection"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-td-block-uid=\"tdi_84\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p>A major commercial vehicle parts manufacturer filed for bankruptcy protection as part of a plan to restructure, the company announced this week.<\/p>\n<p>On October 9, <a href=\"https:\/\/www.prnewswire.com\/news-releases\/accuride-announces-debt-restructuring-agreement-302272277.html\">Livonia, Michigan-headquartered Accuride announced<\/a> that the company filed for Chapter 11 bankruptcy protection in the U.S. and for Companies\u2019 Creditors Arrangement Act (CCAA) in Canada.<\/p>\n<p>Accuride says that plants will remain open and business will operate as usual without interruption.<\/p>\n<p>The company says that it expects to \u201cemerge\u201d from the bankruptcy proceedings within 90 to 100 days from filing, with a confirmed plan of reorganization.<\/p>\n<p>Accuride says that lenders have provided $30 million\u00a0in Debtor-in-Possession financing to allow normal operations to continue and to meet obligations to employees, suppliers, and customers as they come due.<\/p>\n<p>\u201cAccuride\u2019s reorganization efforts are designed to create a healthier capital structure that will allow the Company to remain a leader in the global wheel market,\u201d said\u00a0Robin Kendrick, Accuride\u2019s President and CEO. \u201cAccuride anticipates a quick emergence from Chapter 11, with a de-levered balance sheet and improved capital structure. I am confident this reorganization will give Accuride the financial flexibility it needs to grow its business and support its employees, customers, and suppliers.\u201d\u00a0<\/p>\n<p>Accuride produces steel and aluminum commercial vehicle wheels and wheel-end components and assemblies.<\/p>\n<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cdllife.com\/2024\/michigan-semi-truck-parts-manufacturer-files-for-chapter-11-bankruptcy-protection\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A major commercial vehicle parts manufacturer filed for bankruptcy protection as part of a plan to restructure, the company announced this week. On October 9, Livonia, Michigan-headquartered Accuride announced that the company filed for Chapter 11 bankruptcy protection in the U.S. and for Companies\u2019 Creditors Arrangement Act (CCAA) in Canada. Accuride says that plants will&#8230;<\/p>\n","protected":false},"author":1,"featured_media":14841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"class_list":["post-14840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/posts\/14840"}],"collection":[{"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/comments?post=14840"}],"version-history":[{"count":1,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/posts\/14840\/revisions"}],"predecessor-version":[{"id":16197,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/posts\/14840\/revisions\/16197"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/media\/14841"}],"wp:attachment":[{"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/media?parent=14840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/categories?post=14840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/tags?post=14840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}