General Motors is in “intense” and “earnest” preparations for a possible bankruptcy filing, a news agency source familiar with the matter has said.
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Another source said a plan to split the automaker into ‘new’ and ‘old’ companies, with the new one consisting of the most successful units, is now seen as the best option for the future.
New GM CEO Fritz Henderson has said the company would prefer to restructure out of court but would go before a judge if needed.
GM declined to comment on the report.
