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Visteon seeks Chapter 11 restructure in US

US car parts maker Visteon, which was spun off from Ford in 2000, has filed for Chapter 11 bankruptcy protection.

 

Chapter 11 protects US firms from their creditors, allowing them to rearrange their finances while still trading.

Visteon has a presence in the UK, but the group said that none of its subsidiaries or joint ventures outside the US were part of the filing.

Visteon UK went into administration in March and closed three factories, leading to protests by workers.

 

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