With stories about Chrysler’s trek through bankruptcy court and GM’s inevitable bankruptcy filing, it seems like corporate bankruptcy has dominated the news.
Now auto-parts supplier Visteon has filed for Chapter 11 bankruptcy in a Delaware court, just one month after its British unit filed a separate case in Great Britain and closed three plants.
That isn’t all that suprising considering the dramatic fall in car sales. One suprise is the fashion house Christian Lecroix is seeking bankruptcy protection in French court.
It makes me wonder if the financial problems that the people who work for these companies is getting the same attention that the businesses get. How many of their employees will have to file bankruptcy after they lose their jobs or health insurance? How many retirees will have to file bankruptcy to protect their homes from creditors after their pension benefits take a hit?
