Jul 29, 2014
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Is A Waltham Company Going Broke?

Waltham firm is in major trouble.

Is A Waltham Company Going Broke?

Waltham-based A123 Systems says it will likely default on some of its debt and seek bankruptcy protection soon, according to the Washington Post. 

The news comes after the company received a $450 million loan from a Chinese company two months ago, according to the Post. A123 manufactures high-tech car batteries. 

The company, which received millions in federal funding to build a factory in the United States, has faced challenges since batteries it supplied to another company were recalled, according to Business Week. 

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