Chapter 11 Bankruptcy Filing Nissan And Stellantis Supplier Marelli Files for Bankruptcy

From Susanne Braun | Translated by AI 1 min Reading Time

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Automotive supplier Marelli, which originated from Magneti Marelli and Calsonic Kansei, has filed for Chapter 11 bankruptcy in the USA. To support this, the company has received over USD 1.1 billion in debtor-in-possession financing.

Marelli has filed for Chapter 11 bankruptcy in the USA.(Image: Marelli)
Marelli has filed for Chapter 11 bankruptcy in the USA.
(Image: Marelli)

The difficult situation in the automotive sector and the resulting financing gaps have led supplier Marelli to file for Chapter 11 bankruptcy in the USA. Through this process, they aim to restructure long-term debt obligations and strengthen liquidity without operational restrictions.

Approximately 80 percent of the company's creditors have signed an agreement to support the restructuring. Additionally, Marelli received a commitment for $1.1 billion in debtor-in-possession financing from the creditors to support operations alongside operational cash flow during bankruptcy proceedings and restructuring. However, the bankruptcy court must approve this loan.

"We at Marelli have proactively taken necessary measures to stabilize our financial situation and provide long-term value to our customers, partners, and employees," said David Slump, President and CEO of Marelli. "Despite positive developments and improved profitability, industry-wide market pressures have led to a working capital funding gap that we now need to address."

Misery in the Automotive Sector Continues

According to reports, Stellantis and Nissan are among Marelli's largest customers; Bosch, Mazda, and Tesla are also supplied by the company (via CBTNews). Nissan, in particular, is not in a rosy economic situation. After record losses in the 2024 fiscal year, the Japanese company plans radical cuts, including job reductions and plant closures. For months, there have been reports that negotiations with Honda for a deeper partnership have failed. Recently, there has been interest in a cooperation with Tesla. (sb)

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