DETROIT -- Dura Automotive Systems Inc. has hired the New York investment bank Miller Buckfire & Co. to advise it on restructuring a debt that has generated bankruptcy concerns on Wall Street.
The company has adequate liquidity and is complying with lending covenants, Dura spokesman Robert Mead said. He added that it was premature to speculate whether Dura would seek new terms with its lenders or ask that payments be stretched.
Dura has $1.2 billion in long-term debt and senior notes. The company makes seat components and steering and door parts.