Hudson-based Diebold Nixdorf plans to file for Chapter 11 bankruptcy

After reaching an agreement with key financial shareholders to restructure its debt, Diebold Nixdorf plans to file for Chapter 11 bankruptcy protection, the Hudson-based company announced on Tuesday. In a release on its website, the company said that the restructuring is "expected to significantly reduce debt and leverage levels and provide substantial additional liquidity to support seamless ongoing operations and establish a long-term, sustainable capital structure for the Company." The debt restructuring is expected to be completed "efficiently and quickly." "Our company is focused on continuing our solid operational performance and delivering best-in-class products and services to banks and retailers around the world. With the support of our creditors, we have reached an agreement to restructure and strengthen our balance sheet, enhance liquidity and position Diebold Nixdorf for long-term success," Diebold Nixdorf chairman, president and chief executive officer Octavio Marquez said in a statement. Read more: https://www.wkyc.com/article/news/loc... -- At 3News, we’re not here to tell you the news, we’re here to share the stories that you say matter most to you. Share your ideas, thoughts, concerns and engage in conversations about the communities in which we all call home. Follow 3News on Social: Facebook:   /      Twitter:   / wkyc     Instagram:   /      Visit our site: https://www.wkyc.com/ And be sure to download our app here: https://wkyc.com/app