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Visteon Files For Bankruptcy

Courtesy of Tyler at Zero Hedge

Visteon Files For Bankruptcy

The auto supplier firing squad just had its first casualty. Not surprising, and definitely not the last one. The bankruptcy was filed in Delaware. From the CEO:

“Visteon is taking this step to maximize the long-term value of the company. During the reorganization period, we will seek to address our capital structure and legacy costs that are not sustainable given the current economic environment. The results of these actions, combined with our innovative products and excellent product quality, will allow Visteon to emerge a financially sound and well-positioned company.”


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