Georgia-based Exide Technologies has filed for Chapter 11 Bankruptcy protection just over a week after it announced more layoffs at its Bristol, Tenn. plant.
The battery manufacturer tells News 5 the action will allow the company to reorganize and restructure in an effort to become a more effective company.
The bankruptcy petition was filed in Delaware early Monday. It affects only Exide Technologies plants and employees in the United States.
An Exide spokesperson told News 5 there are no more plans right now for layoffs in Bristol and that the facility here will retain some employees and continue production. Click here to read about the previous layoffs.
Exide Technologies has plants or facilities in more than 80 countries.