Bingham Farms-based Gissing North America LLC filed for Chapter 11 bankruptcy protection with liabilities of up to $100 million.
Gissing, a subsidiary of a Chinese automotive supplier, manufactures 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 evening in U.S. Bankruptcy Court for the Eastern District of Michigan. It is the first known automotive supplier based in Metro Detroit to file for bankruptcy amid continued financial volatility resulting from the COVID-19 pandemic and resulting supply chain issues.
The company said it 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 from 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 established in 2016. Wuxi operates 14 factories 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. There were six factories in the United States last year, 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 evening.