Visteon files for chapter 11 bankruptcy
US auto parts maker Visteon filed for chapter 11 bankruptcy protection in the US yesterday.
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.