A Charlotte-based manufacturer of hybrid and electric buses has filed for bankruptcy protection following several weeks of furloughs and layoffs.
The Charlotte Observer reports (http://bit.ly/16Ut9Az ) that federal court documents show DesignLine has assets of $14 million and debts of $37.5 million.
DesignLine is the former employer of U.S. Transportation Secretary Anthony Foxx, who was Charlotte's mayor until the U.S. Senate confirmed President Barack Obama's nominee in June. Foxx made $88,000 a year as deputy general counsel, a job he had throughout his tenure as mayor.
The company's largest creditor is New Jersey Transit, which has paid $3.6 million for buses it hasn't received.
DesignLine was founded in New Zealand but moved its headquarters to Charlotte in 2006. The company employed about 250 people there earlier this year.
Copyright 2016 by The Associated Press. All Rights Reserved.