Accuride Files for Chapter 11 Bankruptcy

Accuride Corp., a manufacturer of steel and aluminum truck and trailer wheels, filed for Chapter 11 bankruptcy protection Thursday, Bloomberg reported.

The company made the filing in U.S. Bankruptcy Court in Wilmington, Del., as part of a balance-sheet restructuring, Bloomberg said.

“The company’s prearranged restructuring plan represents a significant achievement for the company and should greatly enhance the company’s ability to reorganize successfully and expeditiously,” James Woodward, chief financial officer of the Evansville, Ind., company, said in the filing.

Accuride and its 20 affiliates listed assets of $682.3 million and debt of $847 million as of Aug. 31, Bloomberg said.