Thursday, October 6 2022

Bingham Farms-based Gissing North America LLC filed for Chapter 11 bankruptcy protection with up to $100 million in liabilities.

Gissing, a subsidiary of a Chinese auto supplier, makes interior acoustics and cargo management systems for Ford Motor Co., General Motors Co., Toyota Motor Corp., Nissan Motor Co. and Honda Motor Co.

The company filed Monday night in the US Bankruptcy Court for the Eastern District of Michigan in Detroit. It is the first known auto supplier based in the Detroit metro area to file for bankruptcy amid continued financial volatility resulting from the COVID-19 pandemic and ensuing supply chain issues.

In the filing, Gissing said he has between $50 million and $100 million in assets and the same range of estimated liabilities. It has between 200 and 999 creditors, including hundreds based in Michigan, according to the filing.

The filing includes 700 pages of creditors, including Alta Equipment Co., BASF Corp., Blue Cross Blue Shield of Michigan, Bodman LLP, Borgwarner Inc., Central Transport and Tri-Chem Corp.

Owned by Wuxi Gissing Auto Parts Co., the US subsidiary was formed in 2016. Wuxi operates 14 plants around the world.

Gissing last year announced plans for an $18.7 million investment and 116 new jobs at a plant in Greenville, South Carolina. Last year it had six plants in the US, according to a press release from the Greenville Area Development Corp.

It’s unclear how many employees the company has in Michigan.

The company could not be reached for comment Monday night.


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