DesignLine files for bankruptcy protection

DesignLine, Charlotte, NC, filed for bankruptcy last week after several weeks of furloughs and layoffs. According to the Charlotte Observer:

The bankruptcy filing lists assets of $14 million and debts of $37.5 million. The company’s largest creditor is New Jersey Transit, which claims $3.6 million in payments for buses it has not received, the documents show. A New Jersey Transit spokesman declined to comment.

Click here to read the Charlotte Observer’s full story.