Tom Gores
Pistons owner Tom Gores has reason to have a little hope for his team this year as it shows some signs of being able to win a game. That's a change from earlier in the season.
But things aren't looking so good these days for his company Chassix Inc., a Southfield-based supplier of chassis, brakes and powertrain components, which could be headed for bankruptcy, Crain's Detroit Business reports.
Dustin Walsh and and Chad Halcom of Crain's write that after missing a payment of $17.4 million to bondholders this month, Chassix Inc. has asked the bondholders to organize and retain advisers — and a creditor's filing asserts that the company is taking steps toward a possible bankruptcy.
"This is a delicate situation," a source who declined to be named told Crain's. "I used to hear that Tom Gores took pride in the fact that he does not put companies into bankruptcy; let's just say I haven't heard that in the last few months."
