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Lear Files For Bankruptcy Protection


Last Update: 7/07/2009 11:57 pm
SOUTHFIELD, Mich. (WXYZ) - Auto supplier Lear Corporation announced Tuesday morning that it has filed for bankruptcy.

The move was not unexpected. The Southfield-based seat maker said Wednesday that it planned to file for reorganization.

Lear enters bankruptcy with deals already in place with a number of lenders and bondholders. The company is dealing with almost $4 billion of debt.
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