6/11/2012 12:00:00 PM
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Vehicle hauler Allied Systems Holdings said it is restructuring its finances after filing for Chapter 11 bankruptcy protection on Sunday.
Allied said deliveries to its customers will continue as normal as the company seeks to eliminate debt and strengthen its balance sheet.
â€œAll of our customers can be sure that the filing will have no impact on our ability to maintain our best in class service levels,â€� Allied CEO Mark Gendregske said in a statement. â€œWe understand the trust our customers place in us and we are committed to serving them without interruption.â€�
Allied previously filed for Chapter 11 protection in July 2005 and emerged in May 2007. Since then, the companyâ€™s sales have been adversely affected by a downturn in vehicle production and sales due to the global economic crisis that began in 2008, Allied said.
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