Robotics vehicle maker Seegrid Corp. has filed for chapter 11 protection after a battle over financing and control of the business left it unable to meet debt obligations, the Pittsburgh Post-Gazette reported today. The Findlay company, founded in 2003 by two Carnegie Mellon University robotic scientists, Hans Moravec and Scott Friedman, has outstanding debt of more than $45 million, according to the filing. The company’s two largest shareholders — O’Hara grocer Giant Eagle and an investment group led by a former Seegrid CEO, Anthony Horbal — headed to court this summer to battle over its future, with both alleging the other was being uncooperative. According to the bankruptcy filing on Tuesday, Seegrid’s board on Sept. 18 approved a restructuring term sheet presented by Giant Eagle that laid out a plan for a prepackaged reorganization plan. The company expects to receive up to $3 million from Giant Eagle to act as bridge financing during the restructuring period. The grocer is also expected to provide additional post-reorganization financing that could give it an even larger share of Seegrid.
