Bankruptcy is pervasive in the North American automotive supply chain, as it grows increasingly common to continue doing business while under the protective legal shelter of Chapter 11. Half of supplier respondents and more than 68% of OEM respondents to Ward's Supplier Survey say their companies do business with parts makers that now are or recently were in bankruptcy. Auto industry analysts have identified more than 30 bankruptcies filed on behalf of suppliers they track. The latest Ward's survey, however, suggests the number is much higher, perhaps when including smaller Tier 2 and 3 suppliers that draw less attention.
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