ATM Manufacturer Diebold Nixdorf Files for Chapter 11 Bankruptcy

Diebold Nixdorf Inc., which makes automated teller machines, filed for bankruptcy after striking a deal with most of its secured lenders earlier this week to restructure in court.

The company listed estimated assets and liabilities of as much as $10 billion each in a bankruptcy petition filed in Texas. The Chapter 11 filing allows Diebold to keep operating while it seeks approval of a plan to repay creditors.

The Hudson, Ohio-based company reached an agreement with its lenders on Tuesday to slash debt through the Chapter 11 process. As part of the deal, which will wipe out shareholders, the ...