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DesignLine files for bankruptcy protection

Posted on August 19, 2013

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.

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