Meridian files for reorganization under Chapter 11

Newswire

NEW YORK, April 26 (Reuters) -Meridian Automotive Systems Inc. on Tuesday said it has filed to reorganize under Chapter 11 to restructure its debt, which it said has become "unsustainable" in the current market climate of increasing steel and resin prices. The company also cited the termination of the early payment programs by certain original equipment manufacturers as hurting its liquidity position in recent months. Alongside the filing, Meridian said it has secured commitments for up to ...

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