Another automotive supplier bites the dust …
Dana of Toledo, Ohio, today became the latest auto-parts maker to file for bankruptcy protection for its U.S. operations.
The company said it filed for Chapter 11 protection so it could fix financial and operational problems. Delphi, the nation’s leading parts supplier, filed for Chapter 11 bankruptcy protection in October. Visteon, the nation’s second biggest auto parts supplier, is closing three plants and putting six more up for sale under its restructuring plan.