BBC News reports that Chrysler is just hours away from a deadline that could force it to file for bankruptcy protection. Continuing efforts to restructure the business focus on persuading its main lenders to write off its debts, but reports say these talks have stalled.
Chrysler is also continuing discussions to form an alliance with Fiat, another key demand of the US government.
President Barack Obama said Chrysler could emerge stronger afterwards if a bankruptcy filing proved necessary.
“It would be a very quick type of bankruptcy and they could continue operating and emerge on the other side in a much stronger position,” he said. Full Story…