Will Lear Declare Bankruptcy?

By Paul Raman

Lear Corporation (LEA) (Analyst Report) may file for bankruptcy protection no later than Jul 1.

The company has until Tuesday, Jul 30 to make $38 million in loan interest payments or face the possibility of filing for Chapter 11 protection. The debt holders are preparing for a Chapter 11 bankruptcy filing.

Previously, the company warned that it may be forced to file for Chapter 11, but immediately following that warning, management was able to sign debt waivers.

We do not think that the company will be able to renegotiate a deal with its largest debt holders and will be forced to file bankruptcy.

Comments

[KamiKosi:]

Cant even write your original article? Gotta plagerize from Zachs?


MORON

Jun 30 03:28 PM

[luckyme:]

Before the announcement of the company itself, no body knows if they really want to do the bankrupcy filing. Lea may have prepared to pay the interest payment they owned and keep running the business as well. There are a lot of prospect of the business as GM, Chrysler will get out of their bankrupcy soon and will make better cars. I will support Lea and the american auto industry. Next time when I buy a new car, It will be an american made car. Before, I always drive Toyota brand car.

Jun 30 05:59 PM

[gatekeeper:]

My Toyota Camry was built in Georgetown, Kentucky, USA.
______________________...
RE-
> I will support Lea and the american auto industry. Next time when I
> buy a new car, It will be an american made car. Before, I always
> drive Toyota brand car.

Jul 02 05:17 PM