Exide Files for Bankruptcy After Losing Wal-Mart Business
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Exide Technologies, the 125-year-old battery maker, filed for bankruptcy after California environmental regulators shut down one of the company’s lead-recycling plants.
After the April shutdown in Vernon, California, Exide sped up its restructuring plans by hiring law firm Skadden, Arps, Slate, Meagher & Flom LLP and financial adviser Alvarez & Marsal North America LLC, according to court records.