Exide Technologies, a former Fortune 1000 battery manufacturer based in Georgia and now squeezed by a growing debt load and the COVID-19 supply crunch, has filed for bankruptcy as it seeks to sell off remaining assets.
Exide is using Chapter 11 protection to stave off action by its creditors while it works out separate sales of both its growing international business and a flagging North American operation held down by low-margin plants, a high debt load and hundreds of millions of dollars of environmental remediation costs.
The Milton-based maker and recycler of lead-acid batteries reportedly revealed its $817 million debt load as it filed for its second bankruptcy of the decade, having emerg…
Read the full article at: https://www.globalatlanta.com/exide-to-sell-off-growing-international-battery-business-amid-restructuring/