Exide Technologies has filed for Chapter 11 bankruptcy protection in the United States to facilitate the sale of its North American business, and is engaged in advanced talks with multiple potential buyers, the battery producer said. Liquidity problems were behind the Milton, Georgia-based company’s Chapter 11 filing, Exide said in a release dated Tuesday May 19. The strategy is “designed to restore the company’s liquidity, which had deteriorated further as a result of the unprecedented global health and economic impact of the Covid-19 pandemic,” it added.
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