Jason Industries Inc., which makes seats for Harley-Davidson Inc. motorcycles, John Deere tractors and others, has filed for chapter 11 bankruptcy with a lender-backed plan to cut about $250 million from its balance sheet. The Milwaukee-based manufacturer filed a “prearranged” chapter 11 plan on Wednesday in the U.S. Bankruptcy Court in White Plains, N.Y., that has support from nearly 90% of its senior lenders. Under the terms of the restructuring agreement, Jason Industries senior lenders would take over the equity in the...

Source: Wall Street Journal June 25, 2020 21:22 UTC