SHEBOYGAN, Wis. -- J.L. French Automotive Castings Inc. has received bankruptcy court approval on motions for $25 million in financing and to pay employee wages, benefits and trade vendor claims.
The supplier also received approval to maintain its cash management system and banking relationships. There will be a hearing March 3 to approve another $50 million in financing.
J.L. French, of Sheboygan, Wis., filed for Chapter 11 protection on Feb. 10 in U.S. Bankruptcy Court in Wilmington, Del., to restructure its debts. French supplies powertrain and engine components.