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.
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