Auto Supplier Techniplas Files Bankruptcy, Plans to Sell Itself

Techniplas LLC, which makes plastic parts for cars and trucks, filed for Chapter 11 bankruptcy in Delaware with a plan to sell itself to creditors.

A group of debt holders has agreed to bid $105 million for Techniplas’s three remaining U.S. facilities and its international operations. The bid, which needs court approval, would make the group a so-called stalking horse bidder, setting a floor for further offers.

“We are proud of the confidence represented by the agreement with our noteholders,” Chief Executive Officer Ali El-Haj said in a statement. “This solution charts a positive path forward for the ...