US Machine Maker Files Bankruptcy, Blaming Chinese Regulators

Hardinge Inc., which makes metal-working machines for the automotive and aerospace industries, filed bankruptcy, blaming Chinese regulators who stalled the company’s plans to sell its operations in the country.

The company will try to sell itself in bankruptcy to affiliates of Centre Lane Partners, a private equity firm that took over as Hardinge’s senior lender last week. Under a proposal still being negotiated, Centre Lane would act as the lead bidder in a court-supervised auction, documents show.

Hardinge owes about $107 million under a credit agreement held by Centre Lane, the company said in its Chapter 11 filing. ...