- IEH Auto Parts Holding LLC and its subsidiaries (collectively, "Auto Plus"), an aftermarket parts distributor held within the Automotive segment of Icahn Enterprises ( NASDAQ: IEP ) to file a voluntary chapter 11 case after negatively being hit by lessened demand, supply chain disruptions, an inflationary environment and the effects of COVID-19.
- However, this proceeding will not have a significant impact on IEP.
- Meanwhile, Auto Plus expects to continue to operate its business in the ordinary course and also plans to run a sale process for substantially all of its assets during the chapter 11 case.
For further details see:
Icahn Enterprises' Auto Plus business files for Chapter 11