Global battery producer Exide Technologies filed for bankruptcy after it faced $31 million in interest payments in August and losing against rivals.

The company disclosed its figures as it filed for Chapter 11 bankruptcy protection early on Monday, citing debts of $1.1 billion and assets worth $1.9 billion. The company's obligations to its suppliers and employees outside the United States remain unaffected by the filing.

Exide have sought bankruptcy before in 2004. The company emerged from its Chapter 11 restructuring then.

This year, Exide seeks court-directed restructuring after the company lost Wal-Mart Stores Inc,. as their client. Wal-mart decided to switch to Johnson Controls Inc. to supply their transportation batteries in 2010. This prompted Exide's reduced annual revenue amounting to an estimated $160 million, said Philipp Damaska, chief financial officer of Exide Technologies.

Its main competitor, Johnson Controls, boasted better figures.

Exide explained that its cessation of operations will cost the company $24 million in projected earnings.