APC Automotive Technologies got court permission to tap $30 million of $140 million in bankruptcy financing, giving the auto parts manufacturer the cash to keep going while it restructures under Chapter 11.
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware said Thursday he would approve the financing and other first-day motions, and scheduled a hearing on the company’s plan and disclosures for July 10.
Littleton, Colo.-based APC Automotive Technologies Intermediate Holdings LLC and a dozen affiliates filed for bankruptcy protection Wednesday, citing Covid-19 as the catalyst for supply chain delays, distribution problems, and falling ...
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