USA: Vehicle plastics maker Venture Holdings files for Chapter 11
Venture Holdings Company, a worldwide manufacturer and supplier of automotive components and systems, filed a petition for Chapter 11 reorganisation at the weekend in the United States Bankruptcy Court, Eastern District of Michigan, the company said in a statement. Founder Larry Winget announced that the company's board of directors, at his request, appointed Joseph Day as the company's CEO. Day, a director of the company since January 2003, is assuming operating responsibility for Venture's US and foreign operations. James Butler, CFO and general counsel, will remain in those capacities and will focus on banking, treasury, restructuring and legal matters.
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