Delphi’s Loss Increases; Bankruptcy Plan Approved
Parts maker Delphi Corp. reported a net loss in December of $964 million, more than double that of the same month a year earlier, Bloomberg reported.
Delphi’s sales fell 45% to $404 million, while sales to former parent company General Motors Corp. and its affiliates fell by half, to $338 million, Bloomberg said.
A federal bankruptcy judge late last month approved Delphi’s reorganization plan, clearing the way for the company to emerge from Chapter 11 bankruptcy protection, the Associated Press reported.
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