Diebold Nixdorf: Plans for Bankruptcy Filing to Move Forward

HUDSON, Ohio (News Talk 1480 WHBC) – A company with deep roots in Canton is moving forward in the next few days with plans to file for Chapter 11 bankruptcy protection.

Diebold Nixdorf which is now headquartered in Hudson says in a press release that it is seeking to restructure its debt.

A majority of those holding that debt are reportedly in agreement with the company plan.

The company says it hopes to get through the restructuring process in the third quarter of this year.

The ATM manufacturer was initially founded in Cincinnati in 1859.

But the success of the safe and bank vault business out of a Canton factory brought the company here in 1874.

Stock trading was halted before the Tuesday announcement, with the price at 25-cents a share.