On 6 November, the board of directors of Marangoni Meccanica SpA filed a request to start the process making an arrangement with its creditors, according to our Italian sister publication PneusNews.it. Naturally, there is great concern on the part of the Fim Cisl and Fiom CGIL trade union representatives for the company’s 72 employees.
When American Tire Distributors, Inc. (ATD) filed Chapter 11 on 22 October 2024, the large US tyre distributor did so for the second time in roughly six years. And it did so leaving tyremakers with north of US$589 million outstanding. If North America’s largest tyre brands weren’t nervous at this point, more than half of that will be connected to the balance sheet of just three tyremakers.
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