Report: Chrysler Hires Bankruptcy Firm Jones-Day

The WSJ is reporting Chrysler hired bankruptcy firm Jones-Day "several weeks ago" to "prepare for imminent financial failure." More below the jump.

All we have so far is directly from the top of the WSJ web site:

"Chrysler several weeks ago hired the prominent law firm of Jones Day as bankruptcy counsel, suggesting the auto maker is preparing for imminent financial failure should its efforts to obtain federal rescue funds fall short."

[via WSJ]