Southfield

Lear intends filing for bankruptcy; working out debtor-in-possession financing

Lear intends filing for bankruptcy; working out debtor-in-possession financing

The slump in global auto sales has yet another victim – the Southfield, Michigan-based car parts’ maker, Lear Corp.! The company said on Wednesday that it intends filing for Chapter 11 bankruptcy for its US and Canadian units, as well as restructuring its debt under court supervision.

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