Medical Device Maker Invacare Files for Bankruptcy (1)

Invacare Corp., which manufactures medical devices for long-term care, filed for bankruptcy on Tuesday with plans to cut its debt load after supply chain disruptions and surging freight costs bruised its finances.

The publicly traded firm listed assets and liabilities of as much as $1 billion each in its Chapter 11 petition, filed in Houston. The bankruptcy filing allows Elyria, Ohio-based Invacare to keep operating while it works on a plan to repay creditors.

Invacare has reached a tentative deal with major creditors to slash its debt load by $240 million in Chapter 11, according to a ...