Diebold Nixdorf plants to file for chapter 11 bankruptcy protection after reaching an agreement with key financial stakeholders to restructure its debt, the Hudson company said yesterday, according to a report in the Akron (Ohio) Beacon Journal. The company, a leading provider of automated teller machines and financial security software and hardware, is seeking to complete the restructuring "efficiently and quickly" to "support seamless ongoing operations and establish a long-term, sustainable capital structure." Octavio Marquez, Diebold Nixdorf chairman, president and chief executive officer, said: "Our company is focused on continuing our solid operational performance and delivering best-in-class products and services to banks and retailers around the world. With the support of our creditors, we have reached an agreement to restructure and strengthen our balance sheet, enhance liquidity and position Diebold Nixdorf for long-term success." The company said it expects the restructuring transactions to be consummated in the third quarter of 2023.
