Lear files for Chapter 11 bankruptcy protection

Struggling automotive parts supplier Lear Corp. said it has filed for Chapter 11 bankruptcy protection after receiving the support it needed from lenders and bondholders.

Struggling automotive parts supplier Lear Corp. filed for Chapter 11 bankruptcy protection on Tuesday after receiving the support it needed from lenders and bondholders.

NEW YORK (Reuters) - U.S.

Reuters - U.S. auto parts maker Lear Corp , which has been weighed down by heavy debts and a sharp decline in automobile demand, filed for Chapter 11 bankruptcy protection on Tuesday.

RDA Holding Co., publisher of the 91-year-old Reader’s Digest magazine, filed for bankruptcy to cut US$465-million in debt and focus on North American operations as consumers shift from print to electronic media. The company is the latest in a line of iconic businesses to have recently sought court protection from creditors, after Hostess Brands Inc., maker of Twinkies and Wonder Bread, and Eastman Kodak Co., inventor of Kodachrome and the Instamatic camera.

(Reuters) - U.S.

U.S. auto parts maker Lear Corp filed for Chapter 11 bankruptcy protection on Tuesday, a day after setting out plans to restructure its US$3.6-billion debt burden under a proposed deal with creditors.