Visteon makes interest payment, avoids declaring bankruptcy
Visteon spokesman Jim Fisher says, "We continue to focus on managing through the current challenging operating environment." Reading between the lines, it seems that the company may be hoping that the Obama administration decides to offer bailout funds to the supplier industry.
Without some sort of bailout or financial assistance, it still seems likely that Visteon is headed for Chapter 11, so this will surely not be the last we hear about the troubled company over the next few months.
[Source: Detroit Free Press]
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