Car Seat Maker Lear Buckles Up For Prepack Ch. 11
Lear announced Wednesday that it would shortly enter Chapter 11 bankruptcy for a rapid restructuring now that an agreement has been struck among the company, its secured lenders and its bondholders to pay in full Lear’s trade creditors.
The seat manufacturer’s U.S. and Canadian subsidiaries will undergo restructuring, while the company’s “well-capitalized, well-positioned” and busy overseas operations will...
To view the full article, register now.