Group 1 - Marelli, a member of the Fiat Group with over 90 years of history, has filed for Chapter 11 bankruptcy in Delaware to restructure its debts and improve its financial situation [1][3] - The company has secured a financing commitment of $1.1 billion from lenders, with approximately 80% of them supporting the restructuring plan [1] - Marelli's operations are expected to remain unaffected during the bankruptcy process [1] Group 2 - Marelli was formed in 2019 through the merger of Calsonic Kansei and Magneti Marelli, aiming to create a leading global automotive parts supplier with annual revenues exceeding €14 billion [3] - The company has faced declining revenues, with a drop to €10.4 billion in 2020, and has been experiencing continuous losses and high debt levels [3] - Marelli's ranking among global automotive parts suppliers has fallen from 18th in 2021 to 23rd in 2024, with a 67% decrease in free cash flow and a debt-to-equity ratio rising to 185% in 2024 [3] Group 3 - The crisis faced by Marelli is attributed to multiple factors, including cultural clashes, technological disconnections, and over-reliance on a single customer following the merger [4] - The CEO of Marelli, David Slump, emphasized the need for necessary adjustments to stabilize the financial situation and create long-term value for stakeholders [4] - The decision to initiate Chapter 11 is seen as the best option to optimize the balance sheet through debt-to-equity swaps while ensuring normal business operations [4]