Visteon files for Chapter 11 bankruptcy protection
Visteon Corp., the top parts supplier and former subsidiary of Ford Motor Co., has filed for Chapter 11 bankruptcy protection, dealing yet another blow to the reeling automaker supply base.The Van Buren Township, Mich.-based company filed in US Bankruptcy Court for the District of Delaware after struggling with plunging revenue and production cuts from its automaker customers.
American auto parts firm Visteon Corp, one of the major suppliers of Ford Motor, has filed for bankruptcy protection.