October 10, 2024

Accuride files for bankruptcy as it works to restructure

Steve Smith

Accuride files for bankruptcy as it works to restructure

Accuride, a leading manufacturer of commercial vehicle wheels, has filed for Chapter 11 bankruptcy protection in the U.S., aiming to restructure its debts.

The details: The Michigan-based company also started proceedings under the Companies’ Creditors Arrangement Act in Canada.

This move is part of Accuride’s strategy to handle its financial obligations efficiently.
The company received $30 million in Debtor-in-Possession financing to keep operations steady.

Current operations: Accuride plans to continue running its plants without disruptions. The company's restructuring efforts are focused on building a stronger capital structure, says CEO Robin Kendrick.

The goal is to emerge from bankruptcy within 90 to 100 days. This timeline allows them to maintain their position in the global market, reported a press release.

What's next: Accuride remains confident in its ability to grow and support its workforce, suppliers, and customers post-restructuring.

FTC and Florida take down deceptive truck investment scheme

The FTC and Florida have shut down RivX for allegedly running a deceptive trucking investment scheme that left many investors without trucks or income.

Cybersecurity risks in trucking: Experts warn of ELD vulnerabilities

A Colorado State University study exposes cybersecurity threats in the trucking industry through vulnerable Electronic Logging Devices that could risk vehicle control and data security.

Atchafalaya Basin Bridge update ends split speed limits for trucks and cars

Louisiana's Atchafalaya Basin Bridge implements a uniform 60 mph speed limit for all vehicles and sets right-lane-only rules for trucks to enhance road safety.