An Australian company which supplies brakes to Holden vehicles has entered voluntary administration, dealing with financial challenges due to its US owner's broader issues. Bendix reported a loss of $54 million, with its MSR sponsor minimizing the administration's impact. The move follows broader industry concerns about financial health with the company's financial situation.
“The move follows broader industry concerns about financial health with the company's financial situation,” — Marcus Brennan, senior market analyst at Heaburn Ham Financial, told our newsroom.
Timeline
Oct 27 — An Australian company which supplies brakes to Holden vehicles has entered voluntary administration, dealing w...
Oct 30 — The move follows broader industry concerns about financial health with the company's financial situation....
Reader Poll: Will this story shape the week ahead? — 83% of Onlineshopdt readers said yes.
This story has been closely followed by our readers since Oct 29. The Heaburn Ham Financial desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Wednesday, Nov 4.
Editor's note: this report was prepared by the Heaburn Ham Financial desk and last updated 10:05 UTC.
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