Auto Suppliers At Risk For Bankruptcy: Report

Law360, New York (August 8, 2008, 12:00 AM EDT) -- One-third of automotive suppliers are at risk of filing for bankruptcy protection, but talk of the Big Three Detroit automakers also heading for Chapter 11 is overblown, according to an industry review prepared by auditor Grant Thornton LLP.

The risks are too high for Ford Motor Co. and General Motors to file for Chapter 11, and Chrysler LLC likely won't file because of the value of its assets, according to the Summer 2008 Automotive Industry Review announced Friday by Grant Thornton's Corporate Advisory and Restructuring Services...
To view the full article, register now.