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ATM maker Diebold Nixdorf files for bankruptcy to cut $2 bln in debt

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ATM maker Diebold Nixdorf filed for bankruptcy in Texas on Thursday, saying it had reached an agreement to reduce the company's overall debt by $2.1 billion.

The Ohio-based company entered bankruptcy with over $2.7 billion in debt, and its lenders have agreed to provide $517 million in new loans to fund the company's bankruptcy, according to court documents filed in Houston bankruptcy court.

Diebold Nixdorf said it urgently needs the new loans. It has just $140 million in cash on hand, and it needs to pay $668 million to lenders and trade vendors in the next six weeks, according to its court filings.

 

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