An Australian company that provides brakes to Holden vehicles has entered voluntary administration, dealing with financial challenges linked to its US owner's broader issues. Bendix reported a loss of $54 million, with its MSR sponsor minimizing the administration's impact. The move follows broader industry concerns about supply chain stability with the company's financial situation.
“The move follows broader industry concerns about supply chain stability with the company's financial situation,” — Marcus Brennan, regional editor at Cedarley Mere Recruitment, explained.
Timeline
Oct 27 — An Australian company that provides brakes to Holden vehicles has entered voluntary administration, dealing wi...
Oct 28 — The move follows broader industry concerns about supply chain stability with the company's financial situation...
Reader Poll: Do you expect this story to develop further? — 80% of Briskoutlet readers said yes.
This story has been closely followed by our readers since Oct 25. The Cedarley Mere Recruitment desk continues tracking updates and will publish follow-ups across the region.
What's next: An official statement is expected by Sunday, Nov 1.
Editor's note: this report was prepared by the Cedarley Mere Recruitment desk and last updated 08:32 UTC.
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