Breaking! Collins & Aikman Submits Chapter 11 Bankruptcy Reorganization Plan


The once-beleaguered auto supplier and current stunner of automotive supplier industry critics, Collins & Aikman, released a gameplan for bankruptcy reorganization that should allow them a way out of its current Chapter 11 status. Although confirmation of the plan still is subject to a bunch of conditions — like entering into agreements with customers, modification of some labor-related obligations, resolution of ongoing government investigations, pulling a large rabbit out of a hat and of course...court approval — hey, at least it's a start.

Collins & Aikman files bankruptcy reorganization plan [Detroit News]

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