Collins & Aikman Exits Auto Fabrics Business

Law360, New York (April 6, 2006, 12:00 AM EDT) -- Defunct auto interior supplier Collins & Aikman Corp. plans to exit the automotive fabric business, cutting about 12,000 jobs, or 7.5% of its workforce.

The Troy, Mich.-based auto supplier, which filed for Chapter 11 with the U.S. Bankruptcy Court for Eastern District of Michigan in Detroit on May 17, will close three plants. The plants that will be affected are located in Roxboro, NC, Farmville, NC and El Paso, Texas, according to a statement released by the company.

“Despite the tremendous efforts of those within our...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.