Bankrupt auto-parts supplier Visteon Corp. has walked away from its suite leases at Detroit-area sport venues.
The three years remaining on Visteon's suite at Comerica Park, home of the Detroit Tigers, was worth $387,631, according to court filings Monday. The suite at the Palace of Auburn Hills, where the Detroit Pistons play, was a one-year deal worth $128,123.
Visteon, based in suburban Detroit, earlier this summer also began the process to end its suite lease at the Detroit Lions' Ford Field as part of its Chapter 11 bankruptcy protection filings in Delaware's federal bankruptcy court.
The Ford Field suite contract, ended in July, was worth $313,074.
The teams have 10 days to file an objection to the motion granted by Judge Christopher Sontchi.
Visteon, the former Ford Motor Co. parts division, has never posted an annual profit since being spun off from the automaker in 2000.
The company posted a $663 million net loss on about $9.1 billion in revenue in 2008, including a $328 million net loss on revenue of $1.5 billion in the fourth quarter.
It filed for bankruptcy in May.