Automakers, bankrupt Collins & Aikman strike deal

Newswire

DETROIT, Dec 20 (Reuters) - Bankrupt auto parts supplier Collins & Aikman Corp. has reached a deal with a group of its automotive customers that commits them to pay on an expedited basis and support its efforts to sell off operations, the company said on Wednesday. In a filing with the Securities and Exchange Commission, the Southfield, Michigan-based supplier said the deal with an unspecified group of automakers had been approved by federal bankruptcy court in Detroit last week. ...

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