EXIDE FINANCIAL UPDATE: Exide’s red ink adding up in bankruptcy
15:57 EST – Battery-maker Exide Technologies (XIDEQ) lost $24.1M in December, bringing its total losses since filing for bankruptcy in June 2013 to more than $380M. But with the announcement this week of a deal with unsecured creditors, Exide could soon find a way to stop the bleeding. Exide, plagued by environmental troubles, has invited buyers to look at the company or parts of the business, but it also has a Chapter 11 plan proposal that would keep the company in one piece and to allow it to emerge from bankruptcy by the end of March with a lighter debt load.
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