LOUISVILLE, Ky. (WDRB) -- Two years after a Jeffersonville barge maker closed, its parents company plans to file for bankruptcy.
Jeffboat, which closed in 2018, is owned by American Commercial Lines (ACL). ACL said they are filing for Chapter 11 bankruptcy in the coming days in an effort to stay afloat.
The company said to reduce debt, they are entering into an agreement with a majority of their loan holders. Under the deal, ACL will get $200 million in new capital and the debt will be reduced by approximately $1 billion.
ACL remains one of the nation's largest barge operators.
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- Jeffboat launches final vessel as Jeffersonville makes plan for its future
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