A court filing revealed that Edge Products had filed for bankruptcy under Chapter 11. The company is a manufacturer of aftermarket performance electronics for vehicle industry. It sells ignition systems and monitors for major carmakers.

The Ogden, Utah-based firm had assets of USD 50 million to USD 100 million. Its liabilities, however, were estimated to fall anywhere from USD 100 million to USD 500 million based on the filing. Edge Product's net revenue for the year ending July 31 was only pegged at USD 8.2 million.

A Chapter 11 bankruptcy is also known as a reorganization plan. It is resorted to by businesses to enable them to restructure their finances as approved by the bankruptcy court. The restructuring can be done through a reduction of its obligations or modifying debt payment terms. The aim of a Chapter 11 bankruptcy is to help companies ultimately regain profitability and continue with their business.

The bankruptcy filing of Edge Products is docked with the US Bankruptcy Court in the District of Delaware under Case No. 13-12295, Reuters reported.