Jun
15
Takata Plans to File for Bankruptcy as Soon as Next Week, Source Says
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Fellow air-bag maker Key Safety in line as preferred bidder
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Auto-parts supplier’s inflators linked to at least 17 deaths
Takata Corp. plans to file for bankruptcy as soon as next week, paving the way for a sale of the 84-year-old Japanese air-bag maker behind the biggest safety recall in automotive history.
The supplier is expected to seek protection in its home country first, with its U.S. subsidiary filing for Chapter 11 bankruptcy shortly thereafter, according to a person familiar with the matter, who asked not to identified because the matter isn’t public and the timing could change. A representative for the Tokyo-based company couldn’t immediately be reached outside normal business hours…
Takata Plans to File for Bankruptcy as Soon as Next Week, Source Says
