Company Cites Weak Demand for Products
Commercial-truck parts maker Accuride Corp. filed for Chapter 11 bankruptcy protection after the company burned through cash amid a freight industry recession in the U.S.
The firm said its liabilities were estimated to be between $500 million and $1 billion, and gave the same range for its asset, according to a company filing on Oct. 9. S&P Global Ratings said in July that weaker-than-expected demand for Accuride’s products increased risks of a default or restructuring.
