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Business Briefing / Autos

Lear files for bankruptcy

July 08, 2009|Times Wire Reports

Automotive parts supplier Lear Corp. has filed for Chapter 11 bankruptcy after securing support from its bondholders and lenders. The Southfield, Mich., company's move was expected. Lear missed an interest payment on its bond debt last week and revealed its intention to seek court protection from its creditors.

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