Nuvectra (NSDQ:NVTR) announced that it filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code.
The Plano, Texas–based neurostimulation company filed the petition earlier this week in the U.S. Bankruptcy Court for the Eastern District of Texas. Nuvectra said it plans to use the court-supervised bankruptcy process to review its options for maximizing value and addressing its financial obligations.