Another huge auto parts brand files for Chapter 11 bankruptcy
The huge auto parts company files for Chapter 11 bankruptcy to reorganize.
The automotive aftermarket sector has faced a flurry of bankruptcy filings despite some firms in the industry experiencing an increase in business when interest rates began to spike over the last three years.
Demand for auto parts grew since 2022 as interest rates increased, which discouraged consumers from buying new vehicles. Consumers believed it was more economical to invest in repairing their vehicles and extending the life of their cars and trucks, which called for the purchase of new auto parts, than to add a huge expense of a new car to their budget.
