Delphi files for bankruptcy protection
Posted on: Saturday, 8 October 2005, 11:27 CDT
CHICAGO (Reuters) - Delphi Corp. on Saturday filed for bankruptcy, succumbing to high wage and benefit costs inherited from former parent General Motors Corp., the largest bankruptcy in U.S. automotive history.
Delphi, the largest U.S. auto parts supplier, filed for Chapter 11 bankruptcy protection for itself and 38 U.S. units in the U.S. Bankruptcy Court in New York. Non-U.S. units were not included.
Source: REUTERS
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