Financial Times FT.com

Lear raises bankruptcy hopes

By Nicole Bullock

Published: July 8 2009 20:13 | Last updated: July 8 2009 20:13

Lear Corporation, which makes seats for cars, this week filed for bankruptcy in one of the biggest failures yet of a supplier to the automotive industry.

It did so after securing a $500m loan from its creditors, funding it needs to continue operating while it reorganises its finances and hopefully emerges as a viable company once more.Lear and DIPs thumbnail

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