J.L. French Bankruptcy Spotlights Industry Troubles

Law360, New York (February 10, 2006, 12:00 AM EST) -- The ailing auto parts industry has claimed another victim. Parts maker J.L. French has filed for Chapter 11, succumbing to the industry-wide financial malaise that has also felled Delphi and Tower Automotive, among others.

Wisconsin-based J.L. French said in court papers that while under Chapter 11 protection, the company hoped to reduce its debt levels by $300 million and remove $200 million in preferred securities from its balance sheets.

In the filing, parent company Onex Corporation blamed the dismal economic situation in the auto parts industry...
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