Auto Suppliers Aim to Avoid Legal, Financial Mayhem as UAW Strike Looms
"The automotive supply chain is incredibly resilient, but a strike lasting more than several weeks will likely cause some suppliers to seek bankruptcy protection," Ann Marie Uetz, a partner at Foley & Lardner, said.
September 14, 2023 at 05:32 PM
3 minute read
Automotive
Counsel for automotive suppliers for months have implored them to shore up their liquidity and review contracts with customers and subsuppliers ahead of a potential strike Thursday night by the United Auto Workers against the Detroit 3 automakers.
A strike would test how well the nation's more than 5,600 automotive suppliers have prepared. Many barely survived production slowdowns during the pandemic, and now some lawyers warn a prolonged strike could plunge suppliers into bankruptcy.
"All automotive suppliers are on standby to see if they will continue to ship parts tomorrow and beyond," Ann Marie Uetz, a bankruptcy partner at Foley & Lardner and an automotive supply chain expert, said.
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