Takata to file for bankruptcy Monday

|About: Takata Corp. ADR (TKTDQ)|By:, SA News Editor

Facing billions of dollars in liabilities, Takata (OTCPK:TKTDY) will seek bankruptcy protection from creditors on Monday, Reuters reports.

SMBC is to provide a bridge loan worth tens of billions of yen after the filing in Tokyo.

Takata shares have fallen about 75% since last Friday, as the company seeks to wrap up the biggest recall in automotive history.

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