CHARLOTTE, N.C. — DesignLine
filed for bankruptcy protection late last week, following several weeks of furloughs
and layoffs, according to the Charlotte Observer
The bankruptcy filing lists assets of $14 million and debts of $37.5 million. New Jersey Transit, the company’s largest creditor, claims $3.6 million in payments for buses it has not received. For the full Observer report, click here.
DesignLine’s board of directors approved the voluntary bankruptcy filing at a meeting last Monday, according to the Charlotte Business Journal. For the full story, click here.