Lear has reached agreements with their debt and bond holders to restructure the company.
Under the agreement they plan to operate without disruption and to pay the majority of their trade creditors in full.
Lear employs 80,000 workers in 36 countries and produces a variety of seating and electrical system auto parts. In 2008, Lear was ranked #157 on the Fortune 500 list.
We wish them good luck and hope they can successfully continue.